A photo a man in Venezuela posted on Reddit Monday has gone viral. It shows a man holding his empanada with a $2 Venezuelan bolivar bill as a napkin. The post has now already generated over 2,000 comments. (See image below)The user on Reddit, "Victorinox126" does have a point. One bolivar is literally worth less than a penny on the popular, unofficial exchange rate market.
Venezuela's economy is in shambles and basic goods like napkins are hard to come by let a lone afford. Officials...
Valcke was banned for 12 years, reduced to buy poe currency 10 on appeal, over misconduct regarding television deals and 2014 World Cup ticket sales.Kattner, who briefly succeeded Valcke as Blatter’s right-hand man, was fired in May over “breaches” involving millions of dollars.“Under the FIFA code of ethics, the investigatory chamber shall examine all circumstances of the cases equally,” Friday’s statement said.
In short, the national...
INVESTORS AND THE FINANCIAL MARKET
An investor is any individual who entrust capital to a money generating asset expecting that the money entrusted will yield benefit in terms of finances. The investor sees his investment as an annuity which will be beneficial to him over life by bringing in income even when he is on retirement. The is a wide variety of sectors on which a person can invest among which we have commodities, mutual funds, bonds, exchange-traded funds (ETFs), silver, gold, and...
It is amusing how the world is rapidly transforming to a digitally oriented one. Man’s constant search for a better life has spurred some innovations which sometimes baffle humanity. Most people no longer find it safe doing transactions with the use of physical cash or through mainstream financial institutions. With the click of a mouse or a punch on a phone one can make thousands of dollars online without physical labour. What a world! Digitalisation is rapidly transforming the 21st...
Travelling abroad for work or for personal holiday is a pretty common affair these days and every other person travel to different countries very often. It is considered to be a big achievement few decades back but now it is a regular affair and with the changing economy and interests of people every other person at least goes for a holiday abroad. This is all because of change in lifestyle as well as people getting informed more and more about various things and countries and the...
What Is Forex Trading?
The foreign exchange market is the “platform” where the currencies will be traded. For most of the people, currencies are the most important thing of the life. But the currencies needs to be exchanged in order to conduct the foreign trade and the business. If you are living in the U.S and want to buy a dress from Japan, either you or the company that you buy the dress from has to pay the Japan Yen. This means the U.S importer will have to exchange the...
Traditional banking system has been at the top of the world in managing every international and local financial transaction you can ever think of. Banks have been at the center of great successes as well as huge scandals that have occurred in our time since the introduction of the banking system. This huge impact by the banks can be credited to how reliable and how trustworthy the banks had become over the past centuries and many decades. Money payments ever since have been made through owning...
Monetory policy is intended to promote economic growth in a country and maintain stability in the society by making sure the exchange rate of the currency of the country does not drop and reduce the rate of unemployment.
The monetary policy can be further divided into two functional categories which are expansionary and contractionary policy.
The expansionary policy is a situation where the monetary authority puts into place tools which will lead to a boom in the economy. This will imply...
By late 2000, there was already hint here and there of a type of virtual currency rumored to hold a potential of taking over world currency. When a few people learnt of the possibilities and potentials it holds for the future, some smartly took the leap of faith and made investments. At the time it took real visionaries to take the risk, but hey, that’s life. Not everyone can see the future of things like this and even amongst the few who were wise enough to see it, fewer had the courage...
Bitcoin is a set of technologies and concepts that make up a decentralized digital currency system. We all use money, but most people have not thought about what it is or how it came to be. Hence, the first question to ask ourselves is: What is money? Money is simply anything of value which is accepted as an exchangeable item for goods and services in any community or setting. Thus, money can take many forms. The most stable form that money has taken from time past, was and is still gold,...
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