DoodleBug at KTFA Wednesday Night " 3 Things that Delta is Pointing Out" 10-30-19

KTFA:

DELTA:  IQD/USD - Iraqi Dinar US Dollar

Real-time FX  

0.00840 +0.00001    +0.08%

Prev. Close: 0.00840

Bid/Ask: 0.00840 / 0.00841

Day's Range: 0.00840 - 0.00840

 18:00:03 - Real-time Data

Type:Currency

Group:Minor

Base:Iraqi Dinar

Second:US Dollar

WK: They dropped a ZERO!!!

Rommy:  Looky!  Real-time FX

DELTA:  IT'S REAL TIME LET'S GO CBI ..

Thomas:  Thank you Delta for the rate update.  A zero was dropped

DELTA:  IT'S COMING MY BROTHER...

CoCo:  The rate with 3 Zeros .000840 x 1 million dinars would equal $840.00
The rate now with 2 Zeros .00840 x 1 million dinars would equal $8,400.00
Am I correct DELTA?  

DELTA: YES FOR NOW ...(smile)

DELTA:  FACT ........https://www.investing.com/currencies/iqd-usd

BillA:  1 DOWN 2 TO GO

Edna:  Forgive my ignorance but...I went to this site..I even looked up the "Historic data"..all the numbers look basically the same..again, I'm sorry I "Don't get it"...I'm sure it good.  

Doodlebug:  Three things that Delta is pointing out:

 1) the Group category is listing the IQD now as a "MINOR" currency instead of an "EXOTIC".

2) it is showing "Real Time", and

3) it is showing the real time rate at .008 and not the .0008 that we are used to seeing. All of these these are really good for us.

Within FOREX, there are three types of currency pairs: MAJOR, MINOR and EXOTIC

"Major" currency pairs consist of the most frequently traded currencies globally. Because they have massive liquidity, you’re able to trade them virtually always. Furthermore, you’ll find the lowest spreads — or brokerage costs — when trading these pairs.

EUR/USD

Euro/US dollar

USD/JPY

US dollar/Japanese yen

GBP/USD

British pound/US dollar

USD/CHF

US dollar/Swiss franc

USD/CAD

US dollar/Canadian dollar

AUD/USD

Australian dollar/US dollar

NZD/USD

New Zealand dollar/US dollar

"Minor" Currency Pairs - When a currency pair doesn’t include the US dollar, it’s called a "minor currency pair" or a "cross-currency pair".  Here are a few minor currency pairs:

EUR/GBP — Euro/British pound

EUR/AUD — Euro/Australian dollar

GBP/JPY — British pound/Japanese yen

CHF/JPY — Swiss franc/Japanese yen

NZD/JPY — New Zealand dollar/Japanese yen

GBP/CAD — British pound/Canadian dollar

An "exotic currency pair" includes a major currency and the currency of a developing economy (such as Brazil or South Africa). You won’t find exotic pairs as often as you’ll find major or minor pairs, which means the spreads can be higher when trading them. Exotic currency pairs include:

Currency pairs

EUR/TRY

Euro/Turkish lira

USD/HKD

US dollar/Hong Kong dollar

JPY/NOK

Japanese yen/Norwegian krone

NZD/SGD

New Zealand dollar/Singapore dollar

GBP/ZAR

British pound/South African rand

AUD/MXN

Australian dollar/Mexican peso

The IQD has now moved from this "Exotic" category up to the "Minor" Group. IMO, AWESOME NEWS for us! IMO and hope this helps.