Online Transaction Empowered by E-Currency Exchange without credit card
The growth of the internet on a public scale, since its arrival in the eighties has allowed businesses to expand internationally. User interactions are no longer restricted to the local level. Easy to use web interfaces allow voice, message and video-based conversations. Entrepreneurship is much easier than before as individuals can place their product catalogues on websites without much set up costs. Country specific currencies (such as the American dollar, Euro, upee etc.) tend to cause problems if users need to purchase something unavailable in their location. This led to the concept of 'E-Currency' which is geared towards online transactions as it removes usage limitations based on country or nationality. The popularity of this industry grew as a way of handling the restrictions imposed on global businesses. Privacy is a major concern in this regard since there are multiple web-based transactions involved.…...

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References

Christian, P.(n.d.) Speed-E-Money: A subsidiary of international load center. Retrieved from http://www.speed-emoney.com

n.a. (2002) Understanding the E-Currency and Exchange maker industries. Retrieved from www.financial-spread-betting.com/e-gold.pdf

n.a. (2011) Terms of service. Retrieved from http://www.e-currencybank.com/nview/title/Terms+of+services/?lang=english

n.a.(2011) E-Currency Fact Sheet. Retrieved from  http://www.adl.org/internet/e_currency.asp

eferences

Antweiler, W., the EUO - Europe's New Currency, the University of British Columbia, Sauder School of Business, 2001

http://fx.sauder.ubc.ca/euro/last accessed on July 21, 2008

Vatahov, I., Bulgaria's Prospects of Joining the Eurozone, the Sofia Echo, March 20, 2006

Waterfield, B., Bulgaria Threatens EU Treaty with Veto Over Euro, Telegraph

http://www.telegraph.co.uk/news/worldnews/1566069/Bulgaria-threatens-EU-treaty-veto-over-Euro.htmllast accessed on July 21, 2008

Bulgaria and the Euro, Official Website of the European Commission, 2008, http://ec.europa.eu/economy_finance/the_euro/your_country_euro8956_en.html. Ast accessed on July 21, 2008

Economic and Financial Affairs, Official Website of the European Commission, 2008, http://ec.europa.eu/economy_finance/the_euro/index_en.htm?cs_mid=2946last accessed on July 21, 2008

US Dollar to Euro Currency Exchange Forecast, the Financial Forecast Center, 2008, http://www.forecasts.org/euro.html. Ast accessed on July 21, 2008

Antweiler, W., the EUO - Europe's New Currency, the University of British Columbia, Sauder School of Business, 2001

Economic and Financial Affairs, Official Website of the European Commission, 2008

US Dollar to Euro Currency Exchange Forecast, the Financial Forecast Center, 2008

Bulgaria and the Euro, Official Website of the European Commission, 2008

Vatahov,…...

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References

Antweiler, W., the EURO - Europe's New Currency, the University of British Columbia, Sauder School of Business, 2001

accessed on July 21, 2008http://fx.sauder.ubc.ca/euro/last

Vatahov, I., Bulgaria's Prospects of Joining the Eurozone, the Sofia Echo, March 20, 2006

Waterfield, B., Bulgaria Threatens EU Treaty with Veto Over Euro, Telegraph

Finance
Managing Financial isk including Currency Exchange ate isks

Deere and Company are suffering as the string dollar is impacting negative on sales in the Euro zone. The firm is suffering not only due to the exchange rate, but also the high level of competition from other European firms that are operating in the Euro.

If companies operate across international boarders they will face risks associated with exchange rate movement. In the case of a strong home currency, this will make the goods more expensive to purchase if the pricing is based in the home currency. The basing of the price on the dollar, even if it is converted to Euro's effectively passes the risk to the purchaser. The impact can be the price becoming uncompetitive, especially when there are firms that are basing their pricing structure on the same currency as the purchasers.

The firm may deal with the issue by implementing strategies…...

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References

Howells P.G.A, Bain, K, (2007), Financial Institutions and Markets, London, Longman

WalMart, (2014), WalMart Annual report, accessed at  http://stock.walmart.com/annual-reports

Theoretically speaking, there is only one factor affecting the exchange rate of a country adopting a floating exchange rate regime: the supply and demand of the respective currency on the international market. In this sense, if demand exceeds supply, then the value of the currency will go up and the respective currency will appreciate. On the other hand, if supply exceeds demand, the currency will depreciate and the price of the currency will decrease.
Starting from this statement, however, we can discuss several different factors that make the demand and supply vary, affecting thus the exchange. First of all, we have the level of the interest rate in a country. If the interest rates are higher, then foreign investors will choose to enter the national capital markets, purchase local currency and invest in local bonds or T-bills, which bring high returns, due to high interest rates. This mechanism will lead to…...

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Bibliography

1. Fixed and Floating Exchange Rates. (2003). On the Internet at  http://www.tutor2u.net/economics/content/topics/exchangerates/fixed_floating.htm 

2. S Johnson (July 2004). Dollar falls as data put focus on U.S. deficit. Financial Times

3. Fixed and Floating Exchange Rates. (2003). On the Internet at

Negative Effect of the Euro
The major issue facing the euro as a single currency is the potential problems that EU nations may face in absorbing future economic shocks. This is largely due to the fact that unlike most monetary unions, the euro will not be governed by a central fiscal policy since most member states are reluctant to give up control of taxation and expenditure policies. To compensate, euro countries are bound to observe fiscal guidelines laid down by the Maastricht Treaty of 1992 and the Stability and Growth Pact drawn up in 1997.

The Maastricht Treaty defined criteria that entails annual budget deficits held to 3% of GDP and the gross debt-to-GDP ratio reduced to 60% in order to avoid excessive borrowing by member states. Subsequently the Stability and Growth Pact defined the penalty sanctions to be imposed on defaulting nations. The EU believed that these measures would result…...

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Bibliography

Atkinson, Mark. "Rate rises in Europe weaken euro." The Guardian. October 6, 2000. Guardian Unlimited Web site. URL:

 http://www.stern.nyu.edu/globalmacro/ 

Dailey, Chris. "Fiscal Policy in the Eurozone." University of Dublin Web site. URL:

Concluding Statement of the IMF Mission on the Economic Policies of the Euro Area." June 27, 2001. International Monetary Fund Web site. URL:

Exchange Rate Fluctuations
Forex's opening trade on February 14, 2012 for the U.S. Dollar- Euro was one Dollar for .7593 Euros (Google Finance.com. February 14, 2012). Over the period covering the "Great Recession" and the subsequent recovery, the Euro has moved in a yo-yo pattern, at times buoyed by a weak dollar policy of the U.S., and alternately battered by a flight to safety as investors seek the relative strength of the world's reserve currency. Most recently the Dollar- Euro trade has seen the impact of a contagion sovereign debt crisis which has caused vicissitude swings in the currency trade. At the core of these movements however, is the fundamental question of what are the causes and factors of exchange rate fluctuations, and ultimately who are the beneficiaries?

Causes and Factors of Exchange Rate Fluctuations

hen discussing the exchange rate there are two components; the nominal exchange rate and the real. The former…...

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When discussing the exchange rate there are two components; the nominal exchange rate and the real. The former referring to "the rate at which a person can trade the currency of one country for the currency of another" (Mankiw, G.N. 2004), while the latter is " the rate at which a person can trade the goods and services of one country for the goods and services of another" (Mankiw, G.N. 2004). While the nominal exchange rate of one Dollar for .7593 Euros (Google Finance.com. February 14, 2012) garners the headline attention, it is the real exchange rate which is "a key determinant of how much a country exports and imports" (Mankiw, G.N. 2004). The practical application of the exchange rate is the appreciation or depreciation of a currency and the impact of that move on the affordability of goods and services.

Economists cite multiple factors for the movement of currencies relative to one another: inflation differentials, interest rate differentials, current account deficits, public debt, and political stability-economic performance (Investopedia.com. July 23, 2010). In the context of the Dollar-Euro trade, only a few of these factors directly play into the determination of the exchange rate. Inflation differentials mean very little due to the fact that Eurozone inflation year over year is averaging 2.748%, while the U.S.is averaging 2.96% (Global Rates.com. 2012). If there were a significant differential in inflation, lower inflation nations would have comparably stronger currencies. Interest rate differentials also have negligible impact in the Dollar-Euro currency trade. The Federal Reserve and European Central Bank have kept short-term interest rates under one percent for several years to encourage borrowing and liquidity. A large differential would indicate the country with higher rates would experience higher capital inflows and a currency appreciation. Both the Eurozone and U.S. run considerable current account deficits, the former 100 billion U.S. dollars in 2011 (Feldstein, M. November 30, 2011), while the latter experienced a 110 billion deficit in the third quarter of 2011 (U.S. Department of Commerce. 2012).

It is the last two factors which explain the largest movements in the Dollar/Euro trade; debt issuance and political stability and economic growth. The 800 pound gorilla in the room is that the Eurozone is in the midst of sovereign debt crisis which has poisoned the well of economic growth across the European economies. Greece, Spain, Portugal, Ireland and others are rife with high debt to GDP ratios which are strangling private sector opportunities. Germany and France remain the stalwarts of the EU economy, yet even these engines of growth are suffering from the ever increasing debt burden of ECB bailouts and the concomitant surge in possible sovereign credit defaults. While the U.S.

Exchange Rate
One of the risks that I face in this particular scenario is that by the time September rolls around and I receive the funds from the Swedish government the exchange rate will likely change. If the exchange rate goes against me, for example goes to 11 SKr/$, I would face a shortage of approximately 10%. An even higher risk would be if the exchange rate goes even higher. Research on the fluctuation rate provides me with data that assists me in my dilemma.

According to www.x-rates.com the exchange rate of the Swedish krona to the American dollar

during a recent three-month period has fluctuated approximately six percent with a high of and a low of 6.299. If this rate of fluctuation continues to hold true I face a risk of a six percent rise or decline in the value of the kroner when I receive the funds.

Since the current rate of…...

Exchange Rate Crisis
Exchange rate crises are quite common phenomena in the economic world. From the 1994 Mexican crisis and the 1997 Asian crisis to the 1999 Argentine crisis, currency crises have occurred with a somewhat remarkable frequency. Also, known as currency crises or balance of payments (BOP) crisis, exchange rate crises occur when a country's monetary authority (central bank) has inadequate foreign exchange reserves to sustain its set exchange rates. This is usually caused by trade shocks, persistent budget deficits, foreign interest rate shocks, political uncertainty, banking system weaknesses, and moral hazard problems. An exchange rate crisis is often symbolised by factors such as hyper-inflation, banking crisis, devaluation, and economic recession, clearly indicating the dire consequences a currency crisis can have on the economy. More importantly, an exchange rate crisis can easily spread beyond the national boundary, underscoring the need for measures to prevent the crisis. This paper discusses the…...

Currency
Appreciate, depreciate

Changes in the spot rate of exchange between two countries can occur as the result of a change in the relative interest rates in those countries, a change in the balance of trade between those countries and changes in the inflation rates in those countries (Van Bergen, 2015).

The two that are most closely followed are the differences in the interest rates, and the differences in the inflation rates.

A forward is a contract that is written between a party and a counterparty, to exchange currency in a set amount at a set rate in the future. This is proprietary between the parties. A future is publicly-traded. So while it also sets a future date and price for a currency, it is publicly traded, the dates do not change, and the amount is fixed -- to increase the amount you have to buy or sell more futures.

A put option is an…...

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References

Van Bergen, J. (2015). 6 factors that influence exchange rates. Investopedia. Retrieved December 23, 2015 from  http://www.investopedia.com/articles/basics/04/050704.asp

Foreign Exchange
South Africa

he currency in South Africa is the rand. he rand is a free floating currency meaning that there are few controls on the value of the currency. While the rand is a reference currency in the southern Africa region, it is not considered to be a "hard" currency. he performance of the rand against the USD in the past year is as follows:

he chart shows the downward trajectory of the rand against the dollar. A year ago, the rand traded at 7.73 to the dollar, and today it is 9.12, a decline of 18%. his bodes well for a manufacturing operation in South Africa, where the already-low labor costs would be decreasing over time. It does not bode well for selling in South Africa, however, as the country's currency continues to get weaker, which means profits from South Africa will be worth less in dollar terms.

he trend is…...

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The Chinese yuan is not a floating currency. Its exchange rate is managed heavily by the Chinese government and as a result trades within a band set by the Chinese government, on a soft peg to the U.S. dollar. China's currency manipulation may perpetuate the band, but the country is under severe inflationary pressure. This puts the yuan on a steady, long-run appreciation, which can be seen in its chart for the past year:

The yuan one year ago traded at 6.29 to the dollar and today it trades at 6.23. This represents an appreciation of 0.9%. The country face high inflation for much of the year, but that inflation is reported to have dropped to 2.1% in March 2013. This inflation rate is not much different than that of the U.S., which would imply that the exchange rate should remain fairly stable. However, the overriding factor is China's currency band, which is likely to be maintained for the foreseeable future. As a result, the yuan will appreciate in the next year, but only by around the same amount as last year, so that the rate will be around 6.17 yuan to the dollar.

Overall, China represents the best option for Dorchester for selling it televisions. This is almost by default. South Africa is facing a weakening rand amid economic uncertainty. The country still has potential, but the timing is wrong given that the macroeconomic conditions are tough and the rand is depreciating faster than the inflation rate. The situation in Japan is worse. The economy might be better, but the yen is depreciating and there is deflation in the economy. This is bad news all round, and earning yen right now it not wise. This leaves China. China has its own problems -- growth is slowing and currency controls mean that there is a difference between earning yuan and being able to return those earnings to the United States. However, the slow appreciation of the yuan and some overtures to convertibility highlight the reality that China is a fairly safe country in which to invest, in terms of currency exchange rate expectations.

The stability is evident in the statistics as well. Between 1880 and 1914, the golden age of the gold standard, inflation averaged 0.1%. Between 1946-2003, even with Bretton oods, inflation average 4.1% (Bardo, n.d.). Short-term price changes, however, could be highly unstable. This is a consequence of the fact that the gold standard ignores fundamental economic principles. Any system where the value of a good is established by artificial means is subject to such shocks. Another drawback to the gold standard is that it gives governments very little discretion over monetary policy. Another drawback is the cost of producing gold. The gold standard relies on having physical gold reserves. Thus, gold must be produced, and for that there is a cost (Ibid).
ith the decline of Bretton oods, the gold standard died. It was replaced by the modern foreign exchange system. At the core of this system are fiat currencies.…...

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Works Cited:

Bordo, Michael D. (no date). The Gold Standard. Concise Encyclopedia of Economics. Retrieved April 11, 2009 from  http://www.econlib.org/library/Enc/GoldStandard.html 

Cohen, Benjamin. (no date). Bretton Woods System. University of California at Santa Barbara Retrieved April 11, 2009 from  http://www.polsci.ucsb.edu/faculty/cohen/inpress/bretton.html

Discussion. Translation risk is one of the most difficult risks to address. The company can adopt specific strategies to reduce its exposure to specific risks, for example partnering with a local firm to reduce governmental risk. Dealing with broad-based country exposure and by extension translational risk, however, is more complicated. One of the best ways to approach the issue is through diversification. For larger countries, however, it may be difficult to deal with exposure.

The best approach to unhedgeable translational risk is to ensure that adverse currency movements are not going to do significant damage to the company. The company's balance sheet should be far from loan covenants (Amin, 2006). The company should be able to explain to shareholders if translation impacts more than a few cents per share. If this is not the case, then the company needs to find ways to hedge that translational risk by earning extra profit…...

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Works Cited:

Watkins, T. (no date). Accounting or translation risk exposure. San Jose State University. Retrieved April 22, 2010 from  http://www.sjsu.edu/faculty/watkins/accountrisk.htm 

Amin, M. (2006). Should companies hedge against translation risk? Price Waterhouse Coopers. Retrieved April 22, 2010 from  http://pwc.blogs.com/finance_and_treasury/files/Translation_risk_hedging_paper_260506.pdf 

Pugel, T. (2009). International Economics. McGraw-Hill.Higher Education

China announced on Oct. 28, 2004 the first interest rate rise in nine years. In this manner, Beijing is showing its willingness to adopt additional market-oriented reforms in order to have a tighter macro-economic control on the already overheated economy. Although the news regarding the evolution of the Chinese interest rate were contradictory, it would appear that North American economists are welcoming this interest rate increase.
The Chinese economy is rapidly becoming one of the most important in the world, with an annual 8% growth-rate, constant expansion in the preceding years and a history of twenty years of economic reforms. The global economy and especially neighboring countries such Taiwan and Hong Kong are feeling the pressure of the Chinese machine. Investors have made public their fears, since April 2004, that the economy will overheat and are now expecting the austerity measures by the Government to slow the growth and provide for…...

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References:

. "China economy: Beijing considers rate rise to cool economy";

EIU ViewsWire. New York: Apr 20, 2004. pg. n/a (c) 2004 The Economist Intelligence Unit Ltd.,Source: Financial Times

2. "Chinese interest rise shakes international market";

The English version of the Chinese People's Daily Online

Markets
USD/CNY Currency Exchange elationship

The amount of money passing through a foreign exchange market was pegged at $4.0 trillion per day in April 2010 (Bank for International Settlements, 2010). Among the many currencies traded on the open market, the U.S. dollar (USD) continued to lead the pack by a wide margin; a full 84.9% of all trades involved the USD. By comparison, the Chinese currency (CNY) increased its share of the global FX market from 0.1 to 0.9% between April of 20004 and 2010. To better understand how trade with China impacts the exchange rate this essay will examine monetary policy for both countries.

USD/CNY Foreign Exchange Market

The sum of the current (CA) and capital (CAP) accounts will theoretically be zero if the exchange rate between two currencies is flexible (MacDonald, 2007, p. 7). Since M = + D, where M. is the base money supply, is the reserves…...

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References

Bank for International Settlements. (2010). Triennial Central Bank Survey. Report on Global Foreign Exchange Market Activity in 2010. Retrieved 22 May 2014 from  http://www.bis.org/publ/rpfxf10t.pdf .

ECR Research. (2014). China's exchange rate policy. Retrieved 22 May 2014 from  http://www.ecrresearch.com/chinas-exchange-rate-policy .

ETF Database. (2014). CYB -- Dreyfus Chinese Yuan Fund. Retrieved 22 May 2014 from  http://etfdb.com/etf/CYB/ .

MacDonald, R. (2007). Exchange Rate Economies: Theories and Evidence. New York: Routledge.

One of the more popular analytical methods that is used with MT4 that is used to coordinate share trades is based on the Fibonnaci series (each number in this series except one is the product of the preceding two numbers; i.e., 1, 2, 3, 5, 8, 13 & #8230;). This Fibonacci series is used in quantitative trading systems such as MT4 to help traders modify their investments in real-time as the market changes as described further below.
2- Fibonacci

The Fibonacci series can be found throughout nature in the way a pinecone grows when viewed from above or the patterns in a seashell such as the nautilus. Humans have a natural affinity for the Fibonacci series which is also known as the "Golden atio" because it provides an aesthetic that is pleasing to humans (Gelet, 2009). Also pleasing to humans is the power of the Fibonacci series to help manage Forex…...

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References

Artis, M. & Weber, A. (2000). The Euro: A challenge and opportunity for financial markets.

London: Routledge.

About Us. (2010). PIPPoint Forex Brokerage. Retrieved from http://pippoint.net/index.php?option=com_content&view=frontpage&Itemid=75.

Salcedo, Y. (2004, April). Forex FCM report. Futures, 33(5), 33-34.

1. The impact of social media sentiment on cryptocurrency prices
2. The role of government regulation in shaping the crypto market
3. Cryptocurrency adoption in developing countries
4. The potential for decentralized finance (DeFi) to revolutionize traditional financial systems
5. Cryptocurrency market manipulation and its implications
6. The environmental implications of cryptocurrency mining
7. The future of stablecoins and their role in the crypto market
8. The rise of non-fungible tokens (NFTs) and their impact on the art market
9. The influence of institutional investors on the cryptocurrency market
10. The challenges and opportunities for mainstream adoption of cryptocurrencies
11. The psychological factors influencing investor behavior in the crypto market
12.....

Strategies to Accelerate AFCFTA Implementation for Enhancing Trade in Services in Africa
The African Continental Free Trade Area (AFCFTA) holds immense potential for fostering trade in services across the continent. However, its implementation requires the adoption of targeted strategies to overcome existing barriers and leverage opportunities.
1. Policy Harmonization and Regulatory Alignment:
Harmonizing regulations and standards across borders reduces trade costs and improves market access.
Establishing clear guidelines for cross-border service provision, including licensing, certification, and recognition of qualifications.
Implementing mutual recognition agreements facilitates the seamless movement of professionals and service providers between countries.
2. Infrastructure Development and Connectivity:
Investing in reliable and....

SEC Case Study: The Fall of FTX

Introduction

The Securities and Exchange Commission (SEC) is the primary regulator of the securities markets in the United States. It enforces federal securities laws and regulates various financial institutions, including brokerage firms, investment advisors, and public companies. One recent SEC case that has garnered significant attention is the collapse of FTX, a cryptocurrency exchange founded by Sam Bankman-Fried.

Case Overview

FTX was founded in 2019 and quickly became one of the largest cryptocurrency exchanges in the world. However, in November 2022, FTX filed for bankruptcy after a series of disclosures revealed that it had commingled customer funds....