The single currency direction this morning has mostly been influenced by cross currency plays.
The central banks are fighting to prevent this from happening (cross currency swap lines with each other and low swap rates).
Rosenberg structured his 2013 pick as a two-part trade, much like a currency cross.
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Banks are likely to become more pan-European as the single currency encourages cross-border mergers and greater cross-border exposures.
Visa charges its customers about 1% of the total dollar value of international transactions as cross border fees and currency conversion fees.
Under the same pilot scheme, the regulators have approved another HSBC client to reduce its cross-border foreign currency cash management to a single payment.
In 2010, MasterCard charged a currency conversion and cross-border fee off 1% of the transaction amount.
The international transaction revenues include transaction fees and other special fees like cross-border fee and currency conversion fee.
That will lead to currency crises and cross-border disputes like the current spat between Iceland, Britain and the Netherlands over the bill for compensating depositors in Icelandic banks (see article).
Cross-examined about the Turkish currency he claims was deposited in Polly Peck's companies in northern Cyprus, Mr Nadir said money was sometimes delivered by security people in suitcases to banks.
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True, the euro will lead to a big growth in cross-border business, as currency risk disappears and investors begin to assess companies according to their industrial sector, not their domicile.
To get a better handle on how many U.S. dollars are outside of the U.S., the U.S. Customs Service tracks information on cross-border flows through its Currency and Monetary Instrument Reports (CMIR).
He called for a cross-party campaign for the single currency.
MasterCard has also launched a multi-currency purse in Australia to encourage cross-border trading.
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Currency and financial crises have strong cross-border spillover effects - instability can fairly easily spread even if neighboring countries' economic fundamentals are sound.
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Currently, transactions within the shadow economy have to be made face to face, but an electronic System D currency would enable remote and even cross-border transactions.
As explained here and here, globalization with it transnational production sharing and cross-border investment has mitigated the impact of currency values on trade flows.
One of the key characteristics of FX is the inherrent volatility, as any news item, political or economic can have an impact on at least 2 currencies, i.e. the currency pair, but also on the cross relationships.
The new single currency has also set off a wave of cross-border mergers and acquisitions.
Next would come greater cross-border commercial lending, including loans in Chinese currency.
However, many in the region's financial industry say that a single currency would strengthen economic ties and would help banks develop cross-border products and services.
Many euro countries will find that high unemployment, stickily inflexible markets in goods and labour, and the absence of cross-border fiscal transfers combine to make living with the single currency's discipline uncomfortable at best.
The currency conversion fee was 0.2% of the transaction amount and the cross border fee was 0.8% of the transactions amount.
More than 840 South Koreans were set to cross the border Monday to Kaesong, which provides a badly-needed flow of hard currency to a country where many face food shortages, according to Seoul's Unification Ministry.
The free flow of goods and a common currency are one thing, but if companies have to deal with 15 different takeover codes when making cross-border acquisitions, a true single market is still an illusion.
Looked at through the lens of cross-border trade between an American firm suffering devaluationist policies and a foreign importer buying American goods with a rising currency, ultimately the importer is going to have to sell goods back to Americans in order to continue importing.
Considering the trading markets for currencies themselves, the dollar figures in 90 percent of those transactions, nearly 70 percent of global central bank holdings are denominated in dollars, and with cross border trade in mind for individuals in countries with thinly traded currencies, the dollar is the go-between currency of choice 90 percent of the time.
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