Negative Carry Pair: It is opposite of positive carry. It’s a forex trading strategy
in which traders hold long position in a low interest currency and short
position in a high interest currency.
Net Interest Rate Differential: It reveals the difference between the interest rates offered
by two countries. It is the difference between any interest earned and paid
while holding a currency pair position.
Nonconvertible Currency: A currency that is primarily used in domestic transactions
and is not traded in forex markets due to government restrictions.
Noon Rate: A
term used by the bank of Canada to describe the USD/CAD exchange rate. It is
based upon the trading betweel 11:59 a.m. and 12:01 p.m. on a given day and is
released by the bank of Canada at 12:45 p.m. EST on that day.
Nostro Account: A bank account, which is held in a foreign country by a
domestic bank and is denominated in the currency of the foreign country.