North American Banks Overcharging Business Clients On foreign Exchange Payments

Irish Exporters Are Affected By Stronger Euro

In total the foreign exchange market is worth five trillion dollars every day. To put this into context the forex market is 52 time larger than the New York Stock Exchange daily activity. Of the five trillion dollars traded each day, two trillion is traded in spot trades.

A spot trade or spot transaction is the most common transaction made each day. A spot transaction occurs when a business would like to make a payment today and needs a quoted price now.

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Bank of Japan Surprises the Markets

bank-of-japan

The Bank of Japan took markets by surprise by doubling the incentives whose aim is to spur bank lending in the country. The move had immediate effect by weakening the Japanese yen and boosting the Nikkei 225 index on the Tokyo stock exchange. The central bank hopes that the increased lending will stimulate economic growth. It will expand two programs where it offers fixed-rate loans at rock-bottom interest rates to commercial banks. It will also lengthen the duration of the loans, making it easier for financial institutions to profit even…

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Bank of England considers the idea of introducing a plastic pound

After it has experimented with ultra-low interest rates and various bond-buying program in order to keep rates from rising, Bank of England is now considering another innovative measure – introducing plastic banknotes. It announced on  Tuesday that it is starting a public consultation over whether to replace cotton-paper £5 and £10 bank notes with plastic-feeling polymer “fivers” and “tenners” in 2016. The new bills will have the British Second World War leader Winston Churchill on them. If this idea is realized it will represent another break with tradition for the 319…

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Chinese Yuan becomes Ninth most Traded Currency globally

According to a report issued by the Bank of International Settlements, Chinese Yuan entered for the first time among the top ten traded currencies in the world. This marks the rise of China as the second largest economy in the world and the growth that the foreign exchange market is experiencing in the recent years. The Chinese Yuan vaulted to ninth in the Bank for International Settlements’ latest report on foreign-exchange turnover, surpassing the Swedish Krona and New Zealand Dollar, among other widely used currencies. The daily trading volume of…

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The Debt Trap and a Way Out

It seems that once debt becomes part of your life, you almost have no chances of getting out of it. What is worse, you get even deeper into it, and whatever saving methods you try, they hardly ever work. There are hundreds of tips on how to cope with Debt: They tell you to shop wisely and be frugal; they advertise professional help and show happy faces who claim to have managed to get out of Debt and now live happily ever after; they offer bigger loans to pay off…

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