MRO (Mauritanian Ouguiya)

DEFINITION of 'MRO (Mauritanian Ouguiya)'

The currency abbreviation or currency symbol for the Mauritanian ouguiya (MRO), the currency for Mauritania. The Mauritanian ouguiya is made up of 5 khoums (Arabic for "one fifth") and is often presented with the symbol UM. Khoum and 1 ouguiya coins are rarely used in Mauritania, do to their low value.

BREAKING DOWN 'MRO (Mauritanian Ouguiya)'

The Mauritanian ouguiya was first seen in 1973 when it replaced the CFA franc, the currency of the twelve formerly French controlled African countries, at a rate 5 to 1. The ouguiya, along with the Malagasy ariary (the currency of Madagascar), is one of only two currencies in circulation today that is non-decimal based. Both are divided into 5 sub-units rather than ten.

RELATED TERMS
  1. MRO

    In currencies, this is the abbreviation for the Mauritanian Ouguiya.
  2. National Fund For Hydrocarbon Reserves ...

    A sovereign wealth fund administered by the Banque Centrale de ...
  3. Currency Symbol

    A graphical symbol used as a substitute for the actual name of ...
  4. Hard-Coded Stock

    This is a term that refers to a company's stock symbol or ticker ...
  5. Currency

    Currency is a generally accepted form of money, including coins ...
  6. KMF

    The currency abbreviation or the currency symbol for the Cormorian ...
Related Articles
  1. Trading

    Keeping Securities Clear With Ticker Symbols

    A ticker symbol is a group of characters that represent a specific, publicly traded security that’s listed on an exchange.
  2. Markets

    What Happens in a Currency Crisis?

    A currency crisis comes from a decline in the value of a country’s currency.
  3. Markets

    The Currency Board: Understanding The Government's Bank

    Currency board, central bank - what's the difference? Find out more about this little-known monetary authority.
  4. Markets

    Why Countries Keep Reserve Currency

    Central banks and financial institutions hold large amounts of foreign money as their reserve currency.
  5. Markets

    How Currency Works

    Currency offers key advantages over economies based on direct trade. It provides sellers with a broader market for their goods and services, and provides a durable asset with which people can ...
  6. Trading

    4 Of The Most Popular Traded Currencies

    Every day, trillions of dollars trade in the forex market. Here are a few of the most popular currencies, and some characteristics for each.
  7. ETFs & Mutual Funds

    Profit From Forex With Currency ETFs

    There's always a bull market somewhere - and now you can find it with currency ETFs.
  8. Trading

    How Do You Make Money Trading Money?

    Making money in the foreign exchange market is a speculative process. You are betting that the value of one currency will increase relative to another.
  9. Trading

    The History Of Money: From Barter To Banknotes

    Money has been a part of human history for at least 3,000 years. Learn how it evolved.
  10. Trading

    Understanding Currency Depreciation

    Currency depreciation occurs when a currency’s value falls in comparison to other currencies.
RELATED FAQS
  1. Why is the U.S. dollar shown on the top of some currency pairs and on the bottom ...

    All currencies are traded in pairs. The first currency in the pair is called the base currency while the second is called ... Read Answer >>
  2. Do hedge funds have ticker symbols?

    Discover whether or not hedge funds have ticker symbols, where you can find ticker symbols and the significance of a ticker ... Read Answer >>
  3. Why isn't the EUR/USD currency pair quoted as USD/EUR?

    In a currency pair, the first currency in the pair is called the base currency and the second is called the quote currency. ... Read Answer >>
  4. Why do some stock symbols have three letters while others have four? What is the ...

    Stocks found on the New York and American Stock Exchange will normally have symbols with three letters or fewer. On the other ... Read Answer >>
  5. Why do forex traders use a currency converter?

    All currencies are quoted in pairs - one country's currency against another country's currency. A currency converter is used ... Read Answer >>
  6. Why is currency always quoted in pairs?

    When reading currency quotes, you have probably noticed that there is only a single quote for a pair of currencies. Currency ... Read Answer >>
Hot Definitions
  1. AAA

    The highest possible rating assigned to the bonds of an issuer by credit rating agencies. An issuer that is rated AAA has ...
  2. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  3. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  4. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  5. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  6. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
Trading Center