Ebook International business - Environments and operations (15th edition): Part 2
➤ Gửi thông báo lỗi ⚠️ Báo cáo tài liệu vi phạmNội dung chi tiết: Ebook International business - Environments and operations (15th edition): Part 2
Ebook International business - Environments and operations (15th edition): Part 2
The Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2undamentals of foreign exchange2Identify the major characteristics of the foreign-exchange market and how governments control the flow of currencies across national borders3Describe how the foreignexchange market works4Examine the different institutions that deal in foreign exchange5Understand why c Ebook International business - Environments and operations (15th edition): Part 2ompanies deal in foreign exchangeMyManagementLab®Improve Your Grade!When you see this icon Q. visit www.mymanagementlab.com for activities that are apEbook International business - Environments and operations (15th edition): Part 2
plied, personalized, and offer immediate feedback.Another man's trade costs money.—Portuguese Proverb1Find more at http://Viww.downioadsbde.comCASEGoiThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2the money-transfer market and is widely acknowledged as the world leader in wire transfers—electronic transfers of funds from one financial institution to another.’ In this case, it's a transfer from one Western Union office to another. Now, however. Western Union is facing stiff competition from ba Ebook International business - Environments and operations (15th edition): Part 2nks threatening to encroach on its market share of the electronic money-transfer business.Western Union was started in 1851 when a group of businessmeEbook International business - Environments and operations (15th edition): Part 2
n in Rochester, New York, formed the Nevi York and Mississippi Valley Printing Telegraph Company. The name was changed to Western Union in 1861 when tThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2ide North Amenca. Today, more than half a million Western Union agent locations are found in over 200 countries and territories around the world. Money transfers make up 85 percent of Western Union's revenues, with the company transferring about $80 billion annually.Customers have many different opt Ebook International business - Environments and operations (15th edition): Part 2ions when sending money through Western Union: in person, at an agent location. over the phone, or online, via cash, debit cards, or credit cards. AndEbook International business - Environments and operations (15th edition): Part 2
they can use the service at a variety of locations: an actual Western Union office, a grocery store, a post office—just about anywhere people go to tThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2receipt, which includes a Money Transfer Control number to give to the person receiving the funds. To retrieve the funds, the receiver then fills out a "Receive Money" form and presents the Money Transfer Control number along with valid identification at a Western Union agent location.CONVERTING CUR Ebook International business - Environments and operations (15th edition): Part 2RENCYTransfer funds are converted into the foreign currency using an exchange rate set by Western Union. The fees for sending money are determined basEbook International business - Environments and operations (15th edition): Part 2
ed on how much is sent, in what form (cash or debit/credit card), and where it is going. For example, sending $500 to Mexico from Utah costs $12. PariThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2 sent through an agent by cash, debit card, credit card, or a Western Union Gold Card, and senders are required to fill out a form and show a proper ID.SOURCES AND DESTINATIONS OF MIGRATIONMigration is based on supply and demand. People work m other countries because of better economic opportunities Ebook International business - Environments and operations (15th edition): Part 2. A country accepts migrant workers because it is short on labor Each situation Is different. The top five countries in terms of the number of immigraEbook International business - Environments and operations (15th edition): Part 2
nts recently were the United States (42.8 million). Russia (12.3 million). Germany (10.8 million). Saudi Arabia (7.3 million), and Canada (7.2 millionThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2cil, with Qatar at #1 (86.5 percent of the total population) and the United Arab Emirates, induding Dubai, at #3 (70 percent of the population). Of the top five emigration countries. Mexico was #1 with 11.9 million people working abroad, and India was #2 with 11.4 million. The top migration corridor Ebook International business - Environments and operations (15th edition): Part 2 in 2010 was from Mexico to the United States, with 11.6 million workers. India sent 2.2 million workers to u*e UAE, which ranked as the #9 migrationEbook International business - Environments and operations (15th edition): Part 2
corridor. Excluding the former Soviet Union, the India-UAE corridor ranked #5 in the world.In spite of the economic cnsls, remittances from internatioThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2 by the World Bank to continue to expand, possibly hitting $685 billion by 2015. In 2012. the top remittance-receiviog country was India at $70 billion, followed by China at $66 billion and the Philippines and Mexico at S24 billion each. High oil prices were driving migrant workers to the Gulf Coope Ebook International business - Environments and operations (15th edition): Part 2ration Council Countries, whereas remittances to Latin America and the Caribbean suffered due to weak economies m Europe and the United States. The U.Ebook International business - Environments and operations (15th edition): Part 2
S. was by far the top remittance-sending country.The Mexican Connection (I)Most of the migrant workers in the United States come from Latin America anThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2ort their families. Mexico has historically ranked as the largest host country in Latin America for remittances, followed by Brazil. Remittances already exceed foreign direct investment and overseas aid as sources of foreign exchange. Annual remittance income has passed tourism to become the second- Ebook International business - Environments and operations (15th edition): Part 2largest source of foreign-exchange income in Mexico, after oil revenues.Find more at http7/wivw.downk)adsl>de.comCHAPTERS Markets for I oreign ExchangEbook International business - Environments and operations (15th edition): Part 2
e341EXCHANGE RATES AND COMPETITIONA dass-action lawsuit was filed against Western Union in 1997. charging that It offered Its customers lower exchangeThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2ceipts and advertisements that it uses its own exchange rate on transactions and that any difference between the company rate and the market rate is kept by the company. For example, the market exchange rate on April 18.2013. for Mexican pesos was 12.26 pesos/US $ (US $500 = 6.100 pesos), whereas We Ebook International business - Environments and operations (15th edition): Part 2stern Union's offered exchange rate was 11.896 pesosAJS $ (US $500 = 5.948 pesos). One reason for the difference is that the market rate is typicallyEbook International business - Environments and operations (15th edition): Part 2
for very large commercial transactions, whereas the normal Western Union transaction is much smaller—the smaller the transaction, the less favorable tThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fu Ebook International business - Environments and operations (15th edition): Part 2ion to use better exchange rates. Profit margins in the money-transfer business can reach 30 percent, and many banks have started to oiler their own money-transfer services in an attempt to take advantage of the continued expected growth of the foreign money-transfer industry. For example, in 2001 W Ebook International business - Environments and operations (15th edition): Part 2ells Fargo agreed to accept consular identification cards from Mexican immigrants who want to open bank accounts but lack U.S. driver's licenses. ThesEbook International business - Environments and operations (15th edition): Part 2
e cards verify Mexicans' identities without revealing their immigration status. After Wells Fargo began accepting the consular identification card, thThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fuThe Global Monetary EnvironmentPART FOURCHAPTER 8Markets for Foreign ExchangeOBJECTIVESArter studying this chapter, you should be able to1Learn the fuGọi ngay
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