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.

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

Appreciation – Appreciation is the rise in price or value of a currency or other financial asset in response to market fluctuations based on demand.

Arbitrage – Arbitrage is a simultaneous purchase and sale transaction that takes advantage of inequalities between two different markets. It is usually available for a specific transaction for only a short period of time before it is corrected by one or both markets.

Ask – The price offered by a market for a specific currency is the ask price, which is also often referred to as the offer price. In an official quote, the ask price is usually accompanied by the quantity to be purchased at the stated price.

At Best – An order made to a dealer that means to get the most advantageous rate possible.

At or Better – An order made to a dealer to make a transaction at a specific rate or a rate that is more advantageous than the specific rate.