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Yuan dynasty banknotes are the earliest known fiat money. Fiat money is a currency established as money by government regulation or law. The term derives from the Latin fiat (let it become, it will become) used in the sense of an order or decree. It differs from commodity money and representative money.
1. The sum of the open currency spot position and the open currency forward position, being the measure of the foreign exchange risk. 2. The open currency position is the difference between balance assets and liabilities in foreign currency plus the forward (conditional and unconditional) forex purchased and sales.The open currency position is the measure of the foreign exchange risk. Related position codes are: 1. Open currency position per CCY. 2.. The open currency position is the difference between balance assets and liabilities in foreign currency plus the forward (conditional and unconditional) forex purchased and sales. The open currency position is the measure of the foreign exchange risk. Related position codes are: 1. Open currency position per CCY. 2.