Glossary

Accrual

– Accrual is the accumulation of monetary figures over a period of time. It is a standard method of accounting, but also refers to the premiums and discounts applied to forward exchange transactions on a deposit swap deal throughout the period of the deal.

Adjustment

– An adjustment is an official action taken by a central bank in order to influence the exchange rate of the central bank's currency. The purpose of an adjustment is to reduce fluctuations in the rate over the short term.

Annualised

– An annualised figure represents the behaviour of a monetary or financial element over the course of a year.