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Unlike Iceland, Latvia has little external public debt and a thinly traded currency.
From 1994 to 1999, I was a co-founder of two money management firms that traded currency.
If the Chinese renminbi were a freely traded currency, people would flood into it and drive the price up.
Under one plan that was discussed at the time, Avon would have bought its smaller rival using mostly stock, effectively giving Coty a publicly traded currency.
China took another step on its path toward a freely traded currency, allowing more than 130 domestic and foreign banks to trade contracts protecting them against swings in the yuan.
Although the central bank said it did not intervene in currency markets to support the ruble on Wednesday, traders said the bank did, in fact, do a little bit of buying on Moscow's thinly traded currency exchange.
Similar(41)
Furthermore, speculating against thinly traded currencies is tricky.
The United States dollar index, which measures the dollar against other heavily traded currencies, fell to 78.41.
The rupee is one of the world's most actively traded currencies and at least half the turnover is abroad.
Bankers in Mumbai claim that the rupee, one of the world's most actively traded currencies, is manipulated by politicians for personal gain.
The only brilliant economist I know of who leveraged himself in financial markets was John Maynard Keynes, who traded currencies and commodities.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com