Google Answers: Foreign Exchange

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Q: Foreign Exchange ( No Answer, 1 Comment )

Question

Subject: Foreign Exchange
Category: Business and Money > Economics
Asked by: annmac-ga
List Price: $2.00

Posted: 13 Jul 2005 10:08 PDT
Expires: 12 Aug 2005 10:08 PDT
Question ID: 543087

What currency is the "cable".  What country is it from?  What does
"cable" refer to in currency terms?

Answer

There is no answer at this time.

Comments

Subject: Re: Foreign Exchange
From: nproctor-ga on 13 Jul 2005 15:24 PDT

'Cable' refers to the exchange rate between the US Dollar and the British Pound. 

The origin of the term harks back to the days when the GBP/USD rate
used to be transmitted across the Atlantic via telegraph, prompting
bankers, traders and businessmen to ask, "What's the Cable today?".

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