Welcome to the FlashFX blog — a must-read for anyone sending money abroad. Find out how to save on international money transfers & manage your money across borders.
Brexit Turmoil Pressures Pound: What it means for Aussies
After over two years of political impasse, the Brexit debate has well and truly heated up. Temperatures began rising again in August when British Prime Minister Boris Johnson pledged that the UK will leave the European Union on October 31st “no matter what”, greatly increasing the changes of a no-deal
5 Ways to Stretch Your Overseas Easter Holiday Dollars
Are you one of the lucky Aussies that has planned a trip overseas for the upcoming Easter holiday break? Whilst you probably have already paid for the larger items, such as transport and accommodation, you still want to make sure that all other expenses yet to come are as cost
How do I compare foreign exchange rates?
Currencies are exchanged around the world in a 24-hour cycle every weekday. Why? Apart from tourists and travel, there’s international trade (import/export of goods & services) and investment. And of course, people overseas who send money to support family and friends back home. There’s a constant fluctuation in
The Australian Dollar Forecast to decline over 10%
One of the most significant drivers in currency markets is relative interest rates as investors transfer capital from lower interest rate currency jurisdictions to higher interest rate currencies. Last weeks 25 bps interest rate hike in the United States and a closing gap between Australian interest rates and those in
US Treasury's Mnuchin tells IMF to monitor currencies
US Treasury Secretary Steven Mnuchin called on the International Monetary Fund to provide "candid analysis" of exchange-rate policies in member countries. Mnuchin spoke by phone with IMF Managing Director Christine Lagarde in what was among the first contacts between the fund and the administration of President Donald Trump, who has
17 things you (probably) didn't know about UK currency
Moolah, cash, bunce, wonga and all the rest. Sadly, despite Des’ree’s protestations, money really does make the world go round; we all need it, and we’d all like rather more of it. Enjoy 16 facts about the British currency and one somewhat dubious one [http://www.shortlist.
From Bronze Chunks to Imperial Currency: A Brief History of Roman Coins
Before Rome minted coins, sheep and pieces of rough bronze were the dominant currencies, both being abundant local resources. Throughout the duration of Ancient Roman civilisation, currency was mostly based on coins of precious and semi-precious metals, namely gold, silver, bronze and copper. Coinage began during the Republic with the
Foreign Exchange and The Big Mac index
THE Big Mac index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level. It is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise
US Dollar suffers worst January in 30 years
The US dollar posted its worst January in three decades after US President Donald Trump and his trade adviser accused Germany, China and Japan of exploiting currencies to gain a trade advantage over the US. The Trump administration’s willingness to break with tradition and comment about currency valuations has
Apple App Store prices expected to rise significantly in India, Turkey and the UK
Apple is expected to increase its App Store prices for apps and in-app purchases by more than 25% in the UK in the next week as a result of the post-Brexit currency fall in the pound according to 9to5Mac reports [http://stfi.re/dpoxznj] . Apple App Store prices in India
How the world's currencies got their names
From the pound to the peso, the ruble to the lira - you may think the names of currencies have nothing in common. A recent blog post from the Oxford Dictionaries website showed that many of the names the world uses for its money have similar origins. Read more in
The $5 trillion trap - and how to bridge it
Every day around $5 trillion is traded in foreign exchange. While much of it is speculation (trading only for the sake of making a profit), foreign currency transfers are essential to enabling global trade and remittances keep families, and in some areas countries afloat. There are many factors driving foreign
Cashing out: Sweden could be the first country to issue 'digital currency'
Swedish central bank Riksbank is exploring the idea of a 'digital currency'. The system could save tourists a trip to the currency exchange desk. Sweden is seeing a huge decline in the use of traditional notes and coins. Read the full story in The Daily Mail [http://dailym.ai/2g7pyb5]
Guy Debelle's mission to clean up world's biggest market
Everyone in the foreign exchange markets knew the code. "A large Asian central bank is buying," meant intervention by the People's Bank of China. "A big Australian mining company wants $500," was an order by BHP Billiton for US dollars, in the millions. Such disclosure of confidential information, which gives
Three banks settle Canadian foreign exchange class-action
UBS, BNP-Paribas and Bank of America will pay $16 million and provide information to Canadian investors who lost money in the benchmark rigging scandal. The lawsuit against the remaining banks, which is the first “benchmark rigging” case in Canada, seeks $1 billion in compensation. In a case that could affect
Foreign Exchange, primer
Every day around $5 trillion is traded in foreign exchange. While much of it is speculation (trading for the sake of making a profit), foreign currency transfers are essential to enabling global trade. There are many factors driving foreign currency values. Fundamentally it is about the demand and supply of
Ripple and R3 Achieve Breakthrough in Cross-Border Bank Payments
U.S.-based financial innovation start-up R3, along with 12 global banks, have completed the test of a cross-border payment system powered by blockchain technology and developed by financial technology company Ripple. Ripple, a U.S.-based provider of blockchain-based banking payments technology, said in a statement on Thursday that
Foreign Exchange Calculator, Real Cost of Money Conversion.
Do you know what the actual foreign exchange money conversion rate is? You probably know what conversion rate your bank is charging you, but did you know there is another "higher" rate known as the market rate? In fact, the market rate is the only real rate to convert your