Tips for Canadians Studying in the US or Abroad
Once you become a client at CIBC, you should learn how to cancel an e-transfer CIBC. For example, sometimes you could get the wrong details of the recipient, send money to an unintended person, or have an agreement with the recipient to send a different amount. Knowing how to cancel the transaction comes in handy […]
One of the major causes of a shift in a country’s economy is currency appreciation. It happens when a country’s currency increases in value compared to another state’s currency, which can be seen in the nominal exchange rates. Some significant factors causing currency appreciation are the forces of demand and supply, inflation rates, interest rates, […]
Since most cash transactions are done online today, knowing how to send money to someone without a bank account is essential. Most of these money transfer methods are safe and fast and save you from queueing at a bank. Some money transaction methods that don’t require the receiver to have a bank account are using […]
Understanding the principles of a deliverable forward vs. non-deliverable forward contract can help you leverage your investments in the foreign exchange market. Both are forward contracts but with different provisions, and it’s important to be able to distinguish between them. In fact, to understand the fundamentals of non-deliverable forward vs. forward-deliverable contracts, you must know […]
Before starting a business or investing your money, assessing the significant economic risk in your investment area is essential. Economic risks affect businesses by lowering the currency’s value, affecting currency exchange rates. Economic risks are caused by the country’s financial and other macroeconomic conditions. They mainly affect foreign businesses because they influence currency exchange. These […]
When a bank takes a short-term loan from another bank, it pays back with interest depending on the interbank rate. Interbank rates also apply when financial institutions trade currencies with other financial institutions. The open market rate is the interest rate imposed on debt securities traded in the open market. The Interbank rate is the […]
If you’ve just signed up for foreign exchange purchases and sales, you might have come across a new term: spot transactions. It is one of the many financial transaction methods in the foreign exchange market, but it is not complicated. A spot transaction is the purchase or sale of a foreign currency or financial instrument […]
Before making your final decision to buy property in Costa Rica, you need to arm yourself with the relevant information to complete your purchasing seamlessly. The country is famous for its breathtaking nature, rivers, lakes, and the calm Caribbean Sea. Buying property in Costa Rica is safe, but you must ensure you get what you […]
If your dream is to retire to Europe or have a holiday home there, buying a property in Portugal will be ideal. Foreigners like Portugal for its friendly community and the beautiful coast, not to forget the affordable lifestyle. While Portugal has fewer rules for foreigners buying land there, the purchasing process is more complicated […]
When choosing a mode of money transfer, Canadians should compare money order vs. bank draft. Although these standard payment instruments seem similar, they have differences. A bank draft is a security instrument for large payments. The bank issues it after deducting money from the payer’s account. A money order is a document issued by a […]
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