Investors can now benefit directly from major economic and political developments and hedge currency risks for other investments
Varengold Bank, a Germany-based investment bank, has said that it will list 15 new foreign exchange (FX) currency pairs – reported AME Info. Reportedly, the pairs, representing currencies from Eastern Europe, South Africa, and Scandinavia, will debut on the 1st of October.
The bank has said that with the addition of these currencies, Varengold investors can now benefit directly from major economic and political developments and hedge currency risks for other investments.
Ilja Perschbacher, MD of Varengold Bank Dubai, said: “As these economies continue to grow in importance and further integrate into the global economy, investors are seeking new ways to profit in these markets. Today Varengold Bank reaches yet another milestone in its expansionary path to further empower our traders with deep liquidity and tight spreads.”