AUD/USD Current Price: 0.6345 * Governor Lowe expected to provide an encouraging speech despite the ongoing crisis. * PBOC cut interest rates to support the economy, helped the Aussie to hold ground. * AUD/USD short-term neutral, needs to advance beyond 0.6440 to turn positive.The AUD/USD pair hovered around the 0.6350 level throughout this first day of the week, consolidating its modest Friday gains. The Aussie found support on the People Bank of China’s decision to cut interest rates at the beginning of the day, aimed to provide support to the economy. The central bank trimmed its Loan Prime Rate by 20 bps, to 3.85%. The Reserve Bank of Australia will publish the Minutes of its latest meeting during the upcoming Asian session, followed by a Governor’s Lowe speech. The RBA surprised with a positive stance a couple of weeks ago, and the document may provide some support to the
What gives currency its value? Depending on the type of money, there are many different ways that value is assigned and handled. These are the types of currency.
Fiat currency is, at its core, money that is worth what the government and free market determine it is worth.
It gets its value through fiat. Every developed nation uses fiat currency, because the value can be controlled through monetary policies. Some examples of fiat currency include the American dollar, British pound, and Euro.
Asset Backed Currency
Sometimes, assets like gold and silver are used to guarantee the value of currency. Often, asset backed currencies are made out
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Our bank account transfer service enables you to transfer money at competitive exchange rates to your beneficiary’s bank account anywhere in the world.
We partner with reputed international banking institutions to leverage an extensive network of banks spread across 30 countries. Our strong correspondent banking relationships and state-of-the-art technology ensure that your money reaches the beneficiary’s bank account, safely and securely within the committed time.
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Money sent through regular bank account transfers will get credited within two to three working days while that sent through instant bank account transfers will get credited within 10 minutes.
The banks available for regular and instant bank account transfers are