- 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.
The noon rate is the spot exchange rate posted by the central bank every business day at noon. This contract is designed to help mitigate foreign exchange risk. Because NARCs are marked-to-market daily, the parties involved will hedge their currency exposure throughout the life of the contract, even if they choose to close their positions early.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… … Universalium
United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… … Universalium
Burbank, California — This article is about the city in Los Angeles County, California. For the community in Santa Clara County, California, see Burbank, Santa Clara County, California. City of Burbank City … Wikipedia
performing arts — arts or skills that require public performance, as acting, singing, or dancing. [1945 50] * * * ▪ 2009 Introduction Music Classical. The last vestiges of the Cold War seemed to thaw for a moment on Feb. 26, 2008, when the unfamiliar strains … Universalium
cosmos — /koz meuhs, mohs/, n., pl. cosmos, cosmoses for 2, 4. 1. the world or universe regarded as an orderly, harmonious system. 2. a complete, orderly, harmonious system. 3. order; harmony. 4. any composite plant of the genus Cosmos, of tropical… … Universalium
Foreign exchange market — Forex redirects here. For the football club, see FC Forex Braşov. Foreign exchange Exchange rates Currency band Exchange rate Exchange rate regime Exchange rate flexibility Dollarization Fixed exchange rate Floating exchange rate Linked exchange… … Wikipedia
literature — /lit euhr euh cheuhr, choor , li treuh /, n. 1. writings in which expression and form, in connection with ideas of permanent and universal interest, are characteristic or essential features, as poetry, novels, history, biography, and essays. 2.… … Universalium
Dates of 2007 — ▪ 2008 January Ladies and gentlemen: on this day, at this hour, it is still within our power to shape the outcome of this battle. Let us find our resolve, and turn events toward victory. U.S. Pres. George W. Bush, asking for support for his… … Universalium
Compton, California — City of Compton City The Martin Luther King Monument in front of the Compton City Hall and the Superior Court building. The monument is the logo for t … Wikipedia
building construction — Techniques and industry involved in the assembly and erection of structures. Early humans built primarily for shelter, using simple methods. Building materials came from the land, and fabrication was dictated by the limits of the materials and… … Universalium
Peru — Peruvian /peuh rooh vee euhn/, adj., n. /peuh rooh /, n. 1. Spanish, Perú /pe rddooh /. a republic in W South America. 24,949,512; 496,222 sq. mi. (1,285,215 sq. km). Cap.: Lima. 2. a city in N central Indiana. 13,764. 3. a city in N Illinois. 10 … Universalium