NOON AVERAGE RATE CONTRACT - NARC
A type of currency forward contract that refers to the Bank of Canada's average noon rate for foreign exchange as a benchmark. The contract's negotiated exchange rate is compared to the noon rate and the two parties settle the difference in cash. NARCs usually refer to the USD/CAD exchange rate.
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DOP
Currency abbreviation for the peso oro, Dominican Republic’s lone official legal currency. The currency is comprised of 100 centavos and is p ...
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Endowment
Financial asset donated to a non-profit institution, in the form of investment funds or property, with the purpose at the donor’s bequest. Th ...
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