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The central bank maintains loro accounts for a group of commercial banks the so-called direct payment banksA balance on such a loro account it is a nostro account in the view of the commercial bank represents central bank money in the regarded currency. Process of open market operations. Broker Online Trading Pairs Of Currencies In Forex Overview Forex Online Trading Currency Since central bank money currently exists mainly in the form of electronic records electronic money. Money market operations for currencies . Put in a different way central banks and governments absorb the volatility of the pegged currencies they issue. CBDC introduces a new type of central bank money whose demand like cash would need to be accommodated. As short-term securities became a commodity the money market became a component of the financial market for assets involved in short-term borrowing lending buying and selling with original maturities of one year or less. Mumbai Jun 25 PTI Money Market ...