14 May 2008: Pound hits three-month low
Pound hits three-month low after Bank of England inflation report showed gloomy figures.
Expectations are that consumer price inflation in the UK reach 4% for the second half of year.
12 May 2008: The pound recovered from recent plummet
The pound recovered from recent plummet resulted from gloomy industrial reports, after manufacturing sector was hit by decreasing demand and rising production cost. Increasing producer price inflation made expected interest rate lowering less likely. ...
02 Apr 2008: Is EUR in front of a new record high versus USD?
Traders that expected a rise of the USD this week got surprised in a bad way after all the negative economic data lowered American dollar’s rapidly to a bottom never-seen before. The index of Reuters fell to a rate that is a record low for the last 15 years. ...
18 Mar 2008: New money transfer rules for transactions from UK to India
The UK government released new requirements and rules that companies doing transactions must satisfy and follow when money is being sent to India. The purpose of the new rules is to improve security and to ensure money is delivered and received safely to the right person in India.
Stats show that GBP2.3B is being transferred annually from Great Britain internationally, and most of it is mainly sent to 50 developing countries.
A big part of this amount (~GBP300 million) represents the amount of money sent to India every year, and right after India in the destinations chart – Pakistan with ~GBP200 million sent.
Anyway, private customers sending money from the UK are known to have lots of worries and difficulties when making an international money transfer to India for example, because of constant problems for the money to reach the destination targeted and/or to reach the right person named as money Receiver.
The government institution initiating the changes in the money transfer rules is the very DFID (Department of International Development). ...
13 Mar 2008: Lack of confidence in Fed resulted in a record high EUR/USD rate
The USD collapsed, affected by the lack of trust from different financial institutions that questioned the plan of Fed for stabilizing the credit markets. As usual not only the Euro, but Swiss Franc as well as the JPY took advantage of the critical USD position and both currencies managed to reach levels close to new record highs after being dumped by investors. ...