16. It marks the two different days on Earth, where 24 hours is added or subtracted when one crosses the line. A. 2. Most Widely Traded Currency is the Dollar 7. connecting the North and South Poles. • Latitudes – is the imaginary lines stretching from the Prime Meridian East up to the International Date Line: the East and from the Prime Meridian West up to the International Date Line ClickManagement Travel to edit Master • Equator – is the imaginary line that encircles the middle of Companies text styles and Travel Agencies the earth. – The International Date Line, or 180° meridian, serves as the transition line for calendar days. An idea about international rules: People in international business should have a clear idea of international rules and the mechanism to exchange one currency for another.. 4. C. The International Date Line roughly follows 0º latitude. The International Date Line is a line of longitude roughly located at 180 degrees. Each meridian is half of a great circle. Most Dynamic Market in the World 3. The International Date Line (180 degrees longitude) is opposite the prime meridian and indicates the start of each day (Monday, Tuesday, etc.). The international date line is an imaginary line of demarcation on the surface of Earth , that runs from the North Pole to the South Pole it also helps to demarcates the change of one calendar day to the next day . Market Transparency 5. International Network of Dealers 6. International Date Line (Longitude 180 o). while there is Monday in the Eastern Hemisphere i.e. 0° – 180°E, there will be Sunday in the Western Hemisphere i. e. 0° – 180° W. ... Characteristics : Every meridian has a different local time. A large number of middlemen: The procedure for export and import is too complicated and involves a large number of middlemen. 3. The following points highlight the top seven characteristics of foreign exchange market. 4. – Traveling west across the International Date Line, you would advance your calendar one day. Do not confuse the International Date Line with the prime meridian (0 longitude). They render their services for the easy development and expansion of an international … Twenty-Four Hour Market 4. The International Date Line roughly follows 180º longitude. converges at the poles. The International Date Line is located at 180 degrees east or west of the Greenwich Meridian and is an imaginary line of longitude that differentiates between two different days. Most Liquid Market in the World 2. They run in a true north-south direction from . B. They are spaced farthest apart at the equator but. This is to account for the many time zones around the world to make it easier for people to know what time it is in various countries and to keep days uniform based on daylight hours. It passes through the middle of the Pacific Ocean (following the 180° line of longitude ). IDL means the International Date Line, which is along 180° E & W. The date or day changes while crossing this line i.e. 3. Characteristics of Longitudes. The characteristics are: 1. UTC−12:00 is an identifier for a time offset from UTC of −12:00, sometimes referred to as the International Date Line West (IDLW). Meridians help us to determine standard time. The International Date Line shows the point at which the Eastern and Western Hemispheres are in different days. It is the earliest (the clocks shows less than elsewhere) and latest time zone (noon and midnight happen after any other zone). 1. – Traveling east, you would move your calendar back one day. Each day officially starts at 12:01 a.m., at the International Date Line. An International … a spaced farthest apart at the equator but your calendar one day calendar! 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