Banks.
There are no central exchange headquarter for foreign exchange because it is an open market where dealers negotiate their own price feeds through proprietary platforms. The main geographic trading center however, is in London, followed by New York, Tokyo, Hong Kong and Singapore.
Foreign exchange banks throughout the world participate and play a big role in forex, although their roles have been greatly reduced from yesteryear. John Atkin points out in his book The Foreign Exchange Market Of London that "The Bank had long used a mixture of nods, winks and arm twisting to influence the behavior of participants in the domestic money and banking markets." It is no secret that Foreign exchange banks dominate the top level of access for the best Forex spread. Using their big pool of clients along with their own accounts, inter-bank market made up more than half of all Forex transactions.
In the late 1930's banks were the market maker for specified currencies. According to Atkin, "In the case of the US dollar / sterling rate, the Bank announced - when the market re-opened on 5 September 1939 - that its buying rate for dollars would be $4.06, and that its selling would be $4.02. This spread of 4 US cents or 400 points, compared with a normal peacetime inter-bank spread of 13 points, or less." His observation serve to highlight the profitable spread enjoyed by banks in that era. This trend continued until after World War II, when a normal foreign market exchange market slowly became apparent.
Banks do not have total control over foreign exchange rates as they fluctuate according to as actual monetary flow, budget, trade deficits, changes in GDP growth and interest rates and other economic conditions. In foreign exchange platforms, virtually everyone get access to major news at the same time, and banks are no different. Nevertheless, banks still gain the upper hand from monitoring the trend of their customers' order flow.
Apart from normal banks, central banks also participate in the foreign exchange market to regulate currencies in protection of their economy. Central banks or and national banks serve a dominant role in controlling inflation, interest rates and money supply. Since a country's currency rates have direct implications on it's economy through the trade balance, almost all central banks tend to intervene to influence the value of their currencies. This is known as managed float.
Central banks can determine foreign exchange rates to a certain extend, as they have huge foreign exchange reserves in hand to stabilize the market. Again, this does not always work as the combined resources in the actual market usually have a bigger say. As highlighted by William P. Osterberg in his article 'Why Intervention Rarely Works' in year 2000, "foreign-exchange-market intervention is generally ineffective when undertaken independent of monetary policy." An example of central banks' limitations are evident in the 1997 Southeast Asia economic crisis when the International Monetary Fund (IMF) failed to prevent currency depreciation.

IBPS CWE (SO)
Common Written Examination - Specialist Officers ·
home Bank PO Bank PO Exams IBPS CWE (SO) News in IBPS CWE (SO) Role of Specialist Officers in Banks.
Role of Specialist Officers in Banks.
Role of Specialist Officers in Banks -
In today's highly competitive times, Specialist Officers play a critical role in ensuring that a bank works at the optimum level of efficiency.
As most of you probably know already, IBPS conducts the written exam for the recruitment of Specialist Officers once a year. But, many of you would be curious about the role of Specialist Officers in Banks. So let us take a quick look at the kind of work that Specialist Officers do.
Specialist Officers in a bank are appointed for specialized roles in various departments, according to their expertise and educational background.
Some of the Specialist Officer positions in Banks are:
- Information Technology Officer.
- Agricultural Field Officer.
An IT Officer in a bank plays a vital role as IT is the backbone of banking technology. The role and responsibilities of an IT Officer depends upon the section where he/she is deployed. IT Officers are required by every bank nowadays in order to take care of its software systems as these days almost everything is automated through IT tools. IT Officers look into the maintenance of servers, databases and other networking aspects.
Responsibilities of IT Officers:
Normally Banks have 5 sections in the IT Department:-
1) Data Center : This section is the heart of the bank where all the data and core banking application lies. The work of the IT Officer is maintenance and support. Shift duty systems are followed for this section in order to ensure that it is manned 24 hours a day.
2. ATM Section : This section looks after all ATM related activity. Shift duty systems are followed in this section too.
3. Project Office: In this section, all IT support for branch banking is handled. Shift duty systems are followed in this section too.
4. Security Section: In this section, IT officers are responsible for looking after the Bank Network Security and Anti-Virus updation. In cases of fraud or any incidence of a breach in the Bank's internal security, IT officers are called for important enquiries.
5. MIS and Application section: In this section, in-house software development and MIS related activity happens. IT Officers in this section are engaged in developing new software or modifying the Bank's existing software.
Role of Law Officers in Banks - A Law Officer in a bank deals with the legal work of the bank. He/she provides effective legal assistance in the preparation of legal opinions, studies, reports and correspondence, as required from time to time by various departments of the bank.
Role of Personnel Managers/HR Officers - An HR manager/officer develops, advises on and implements policies relating to the effective use of personnel within the organisation.
HR/personnel work comprises a number of different but related policies, all of which are required by organisations that employ people, irrespective of the size of the organization or the nature of business. These policies cover areas such as working practices, recruitment, pay, conditions of employment and diversity.
Role of Marketing Officers - A Marketing Officer plays an important role in a bank as he/she deals with the marketing department of a bank. It is the responsibility of Marketing Officers to increase the sales of the Banks' products and brings profits for the bank.
Marketing Officers work with various departments of a bank and implementing marketing strategies and plans. They manage various marketing material/tools such as leaflets, posters, advertisements in television, magazines and newspapers, etc.
They plan and prepare the advertising budget and negotiate with ad agencies and procure additional services from them.
Marketing Officers strive to create a good image of a bank and also try to ensure that customers have adequate information about the different products of the bank.
Role of Agricultural Officers: An Agricultural Officer works mainly in rural branches of banks. He/she is responsible for giving information about different products, schemes and policies of the bank which can be helpful for the bank's rural customers.
The officer also promotes loans (related to general and agricultural purposes) in rural areas under the various schemes framed by the government and by other financial institutions.

Access Bank : CEO Recounts Banks’ Role in Halting Nigeria’s Forex Crisis.
Managing Director of Access Bank Plc , Herbert Wigwe Obinna Chima The chief executive officer (CEO) of Access Bank Plc , Mr.
has narrated how bank CEOs in the country joined forces with the Central Bank of Nigeria (CBN) to tackle the foreign exchange (forex) crisis that confronted the country during the slump in crude oil price. Wigwe, who is the Chairman of Body of Bank CEOs said this at the annual dinner of the Chartered Institute of Bankers of Nigeria (CIBN) recently. He described 2017 as one of the most interesting years in the country, saying that bank CEOs were meeting with the central bank governor every weekend during the forex crisis, in order to address the situation. “When we got into 2016, the country went into an economic recession which continued until 2017. If you are not close to where the problem was, you would not appreciate how difficult it was to ensure that there is stability. “But because of the work I do as the Chairman of the Body of Bank CEOs, I started working very closely with the governor of central bank. “2017 was extremely interesting for all bank CEOs. We converted the CBN governor’s house on Sundays into a meeting room where all of us met every Sunday. We could not travel. But I think it is interesting that those days are behind us now,” Wigwe said. He commended efforts by the central bank at ensuring stability in the forex market. He added: “As we get into 2018, all of us need to work together as a body to make sure we have a much better country.” After five quarters of continuous contraction of its Gross Domestic Product (GDP), the Nigerian economy recorded a positive growth of 0.55 per cent in the second quarter of 2017. Also, from a peak of 18.72 per cent in January 2017 , headline inflation recorded eight straight months of disinflation, with the rate declining to 15.98 in September. In the same vein, the nation has recorded significant appreciation of the naira from over N500 to a dollar, to about N360 to a dollar. Additionally, the country’s external reserves have recorded significant improvement in the past one year, closing at $34.160 billion as of last Thursday. Earlier, the President/Chairman of the Council, CIBN, Prof.
noted that some of the policy initiatives embarked upon by the different arms of government, ministries, departments and agencies have started yielding expected results. “From January 2017 , inflation rate has consistently declined, while the foreign exchange market has improved significantly. “Just recently, the country had a quantum leap in the World Bank’s Ease of Doing Business Report. These impressive developments in the economy, nonetheless, the country still lags behind in human development indices,” he explained. Furthermore, he noted that in the course of the year, the banking industry also witnessed great disruption that transformed the financial intermediation role of the sector. More importantly, he stressed that the payment system has been hugely distorted by technology with and unprecedented increase in transaction volume. However, he said there was need for the central bank to ensure that it guard against threats arising from the rising patronage of electronic payment channels, especially cybercrime. “The CIBN has been working closely with all stakeholders to build capacity to tackle this challenge. “Let me assure you that we remain committed to the promotion of high ethical conduct among our members and the banking industry is pivotal to achieving sustainable growth. “In line with this, arrangements are on-going by the institute to commence a certification programme on ethics, which would cut across every cadre of staff in the banking industry,” he said. According to him, the institute had developed a framework for the implementation of the competency framework in the banking industry, with the aim of ensuring standards among practitioners.

Role of forex officer in banks

what are the roles/responsibilities of an IT officer in a.
BANK ? , and any clue of the growth or role promotions.
of IT officer Scale II ? . frnz please clarify.
3 Answers 64663 Views I also Faced.
Answers were Sorted based on User's Feedback.
There are several works there in the Bank.
normally banks have 5 sections in IT.
core banking application is there. The work of It officer is.
maintaining and support. there is shift duty there.
installations there is also shift duty.
going on again having shift duty.
and anti virus updation.
development and MIS related activity happens.
Can you please specify the details of MIS and Application.
as an bank officer i want to know if i pass in scale 2 exam i have to take preparation for interview. what type of question the interviewer can asked?
I am going to attend centralbankofindia IT officer interview . so please send some interview questions to me by raja. : mv_rajayahoo, contact no: 9843538577.
Hi, I have done my Post graduation ie MBA, working as recruiter in consultancy. I have cleared clerical cadre in SBI i have an personal interview on this month, can i include my postgraduation? will they think i am over qualified for this position. will they reject? I am in dilemma wheather to include or not. Pls advice on the same.
I am thru with Punjab National Bank exam for Management Trainee held in August 2009. I received a call letter from PNB for main exam, but there is no prospectus related to the exam format. If anyone have any idea about what type of questions/format will be given in the exam, pls give ur valuable reply. I have exam on 20th dec. Very urgent.
i finished my interview on 8th may. they asked me these questions. 1)tell me abt urself(I andwered for 2 mins) 2)difference between 2g and 3g(3g is faster than 2g)i forgot to answer that 3g has more bandwidth and it is circuit switched network 3)what is the uniqueness of 500 rupees note (that circle at corner for blind people , wen in light the colour of 500 changes) 4)what is the technology of atm(i dont know) 5)what are the different types of deposits(Recurring and fixed deposits) 6)what is recent hockey tournament going on(this also i dont know) 7)who is leading in recent world chess championship(anand wen i saw but later i dont know who was leading) 8)who is topper in recent IAS exams?(i didnt answer) 9)what u consider as ur life time achievement? the panel was very soft. so no tension. ALL THE BEST for the rest.
I would like to know the job profile of Assistant Manager (systems) in SBI and career opportunities i have.
Why have you shifted from arts background to management or MBA?
pls send me sample papers pf ldc entrance exam and exam date of ldc exam.
When will b the results of Andhra Bank Specialist officers will come? Does it already came? can anyone tell me plzzzzzzzzzzzzz.
can any one please suggest me which is best bank coaching center among 4 institutes?? 1.Deccan career point(talent sprint) 2.RACE 3.ISB(INDIAN SCHOOL OF BANKING) 4.BSC i can't decide which is rhe best for bank. please send answer to my id:sandhyasandy. engggmail.
recently i am selected for manager in public sector bank at scale two level, kindly inform me the current and revised salary structure with gross pay and other benefits.
Hi, my interview for post of System Administrator in IBPS is scheduled for this Saturday. Please help me if any one knows how many rounds do they conduct for system Administrator and what type of technical and personal interview questions do they ask? Please help me with this. Thanks in advance.
hi! i recently gave punjab and haryana high court restorer interview. n i got some general knowledge questions wrong durin the interview but my practical test was excellent..do i still have chances of getting selected? n my merit is quite good and also my percentage in qualifying examination. pls reply.