Top 5 remittance-receiving countries for 2016

Top 5 remittance countries 2016

The World Bank suggests in their latest Migration and Remittances study for 2016, that remittance flows have declined by 2.4%, to 429 billion US Dollars, after a 1% decline in 2015. This is the first time in recent history that remittances have declined for 2 years in a row. TransferMate solutions can help your company with remitting money to all of these countries, simplifying your international wire transfers processes and saving you valuable resources, time and money. Here are the top five remittance-receiving countries for 2016: India – $62.7 billion Indians…

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How does the US Federal Reserve Works

How does the US Federal Reserve Works

The US Federal Reserve is one of the most important financial institutions in the world and currency traders usually pay a lot of attention to its actions. Therefore it will be interesting to explore the inner workings of the institution. The Federal Reserve or the FED is the central bank of United States; it has been established since 1913. Its main goals are to conduct the monetary policy of the country, to supervise banks and to provide liquidity and financial services to the government and to various depository institutions. The…

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Why was gold used as a currency

Gold has been the world’s currency for thousands of years. The rise of the current monetary system with fiat money did not happen until the middle of the 20 century. It has been used by all major world civilizations throughout the whole history. Many people might wonder why gold was accepted as a currency for such a long time. There are many reasons, but the most important of them include the following: Gold was one of the first metals discovered by mankind as it was closer to the earth surface…

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