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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. ...
 
11 Mar 2008: Will bankers follow on the advice of Bernanke?
The Independent Community Bankers association chairman Bernanke had a speech with all the members, regarding the housing trade crisis in the United States. In brief the statement informed that the Fed is trying to maintain the market chaos, by not only easing the monetary policy as expected. ...
 
06 Mar 2008: USD reaches record low rates versus EUR
American dollar shifted very low versus the rate of Euro on Thursday last week, after a statement of the ECB president. Jean-Claude Trichet from the European Central bank said the risk evaluation results in Europe are optimistic, predicting an interest rate cut coming soon. ...
 
06 Mar 2008: British Pound rated over $2, but is still "fragile" against EUR
GBP reached a rate above USD2.00 on Thursday, which is noticed for the first time this year. This fact is considered to be a consequence after the BoE (Bank of England) held their interest rates at 5.25%, surprising many that expected and predicted a rate cut to be applied. ...