Foreign exchange

Established black market for foreign exchange, when the Government intervenes in the market exchange rate and its currency has a price higher than market price, in other words, you set the ceiling price of foreign currencies against the local currency (see the form of arrest of the currency rate). Assumed that the forces of supply and demand equal, when the exchange rate of the local currency against the U.S. dollar amount equal to So and Mo. Assumed that the government set the exchange rate to be S, which is less than So, ie the local currency has become more expensive than the price, which tie him to supply and demand. This, in turn, lead to the creation of the request is higher than the supply, provided by the government of the U.S. dollar, which is the emergence of a black market for that currency, where the evaluation of the U.S. dollar higher than the Government's assessment, and the difference between the price the government and the black market rate is the S - So.
By pursuing policies of economic reform in Egypt, I found a black market for everything, almost, under the control of the government. Perhaps the most prominent of these forms is the black market for foreign exchange, which included a large number of dealers, who were deployed throughout all Egypt, as they deal with all kinds of foreign currencies, particularly the U.S. dollar. It was the black market for foreign exchange activities of the largest in Egypt, as well as the most profitable. More than that, despite the illegal character of the market, they have been working under reasonable conditions, in terms of degree of security surrounding the dealers in the market, because of the low degree of control, as well as the difficulty in monitoring such transactions illegal by the authorities. Have begun to criticize the black market for foreign policy in the wake of the adoption of controls on foreign exchange, after the Second World War. We have represented major urban areas, as well as areas of the main attractions at the outset, the main centers where there are dealers, foreign currency on the black market for foreign exchange in Egypt. However, by the mid-seventies, the large-scale migration to the Arab oil states, which included immigrants from all regions of Egypt, and from different ages, and levels of professional and functional. We have taken these migrants pumping huge amounts of foreign exchange in all geographic regions, leading to a widening of the market significantly.
In response to this growth in the volume of transactions on the black market for foreign exchange, the Government has taken a series of actions are:
1. The abolition of the freedom of possession, dealing in foreign exchange.
2. Increase the penalties for dealing in black market.
3. The use of appropriate economic policy instruments to reduce foreign exchange dealing.
In 1968, there have been some shifts in economic policy, in terms of allowing individuals and business needs to import from abroad, within certain limits by using their own foreign exchange, without a commitment by the government to provide foreign exchange for the import process, which has subsequently , the system of import without currency conversion. When the States adopted a policy of economic openness, have been restored the right of possession and dealing in foreign exchange, the banks allowed through it. In 1973, construction of a parallel market for foreign exchange, to attract remittances of Egyptians working abroad, as well as direct tourism expenditure towards the official channels of foreign exchange, through the granting of such a transaction incentive exchange rates, through the addition of an incentive in addition to the official exchange rate. However, the process of managing the exchange rate on the parallel market for foreign exchange, and following the same pattern of management of the official exchange rate in the past; and therefore failed to mobilize the black market in foreign exchange resources available to the Egyptians working abroad, and also failed to attract tourists to use the formal market, in conversion of their foreign exchange. The rate of exchange at the parallel market, almost constant, and failed to match the movements of the exchange rate on the black market. If we look at the sources of supply of foreign exchange in the black market, we find that the spending of tourists was the main source of foreign exchange resources in the black market, in response to the differences between the official exchange rates and the rate of exchange on the black market. Has also accounted for counterfeiting bills of foreign trade, whether through the overvaluation of the value of imports, or through Iboukhas imports, exports show no less than its true value, a steady source of foreign exchange inflows on the black market, if we exclude the period of the sixties, decreasing the importance of this source; because of the government monopoly of foreign trade in this period. However, with the adoption of a policy of economic openness, the government to loosen the monopoly of foreign trade transactions in sequence, leading to the return of counterfeiting operations more than ever. To become the most important problems faced by the control of exports and imports. Since the mid-seventies, the remittances of Egyptians working abroad, the most important sources of foreign exchange, which is estimated at about 30 billion pounds annually, the flow of which only 10% on average, through the official channels. As for the rest of it found its way to the black market for foreign exchange. However, with the adoption of economic reform policies, in particular, with regard to the rate of foreign exchange and interest rates on the Egyptian pound, the remittances of Egyptians working abroad have been increasing, reaching 11 billion pounds.
With regard to sources of demand for foreign currency on the black market, the main source of demand is the financing of the commodity importation from abroad, both for the financing of smuggling the commodity, or what was previously known as the luggage trade, or for the financing of the import, without a currency conversion. According to the import regime, without the transfer of currency, the granting of import licenses to importers, who can demonstrate that they have sufficient quantities of foreign exchange, without accountability for the sources of these funds.
There is no doubt that the financing of the drug trade, are essentially based on the black market for foreign exchange. Also, there is strong demand for foreign exchange by individuals, who wish to buy financial assets denominated in foreign currencies, where the increased demand for foreign exchange; for the purpose of investment in portfolio securities, in the periods in which interest rates on the Egyptian pound fixed and negative in real terms, as a strategy to diversify financial risk to investors Egyptians. Similarly, the demand for foreign exchange; for the purpose of smuggling of funds, has increased clearly in the wake of the opening, estimated at 500 million dollars annually.

Changes in foreign exchange ..... The commercial sector yelling

The amendments to the Central Bank of Sudan in the controls and procedures for foreign exchange Babavat, in the publication issued yesterday. And select the publication for years would be allowed to sell foreign exchange to customers, whether in cash or a transfer or check.

The purposes of travel abroad, not to exceed three thousand euros, or the equivalent in other currencies free, treatment, school fees for overseas students, fees for participation in conferences, symposia, and scientific journals Asamnarat, registration fees and contributions to the attainment of Fellowship certificates and diplomas in professional and scientific institutions abroad , the fees for registering patents, trademarks fees, salaries of foreign experts and workers within the country, transfers of rations for students and families living outside the limits of thousand euros or the equivalent of the process in one day and the Hajj and Umrah according to the regulations announced in each season. The publication ban on the transfer or exchange firms, the export of currency paper for the purpose of feeding the foreign currency accounts abroad. And handed over to give the value of transfers to beneficiaries of the Sudanese pound only. And kept the controls the other publication as is.

Condition and highlight the central bank official has confirmed the validity of the documents mentioned purposes. In the case of travel required to provide a request with valid exit visa and ticket. In the case of treatment to provide a certificate from the Enhanced Medical Aalghemcin a message from the Ministry of Foreign Affairs, stating the cost of treatment abroad on the question, in addition to the visa and ticket. The request for conversion of tuition fees is provided with the documents that specify the amount to be converted to be issued by the educational institutions abroad and authenticated by the Ministry of Higher Education. With regard to charges of conferences and symposia, provide supporting evidence for this, showing the amount requested. The same applies to registration fees, subscriptions and examinations to obtain certificates and certificates of the fellowship of other scientific and professional institutions abroad. The registration fees for patents abroad is required to obtain a certificate of registration to highlight the trade of the Registrar General and the Attorney General. Trademark fees and royalties and provides a copy of the certificate of registration established by the concessionaire has the right or use the trademark and a copy of the contract signed between the two, with a request that defines the amount to be transferred. The salaries of foreign experts and workers are required to provide a copy of the employment contract and work permit from the office of external use, and a copy of a valid residence transfers .. The rations for students and families living abroad can not only be done after the application explains the purpose and address of the consignee and the consignee in full.

Amendments and the reasons for that source said the central bank aimed to organize the work of bureaux de change in the context of the ongoing review of policies and controls and procedures relating to the work of exchange companies, in order to activate the functioning of the foreign exchange market and to maintain stability in the market and upgrade the performance in general, and the payment of exchange firms to do its part in the natural market foreign exchange, and addressed to the track, pointing out that speculation in the dollar exchange rate the last few days was the reason behind the high prices of the dollar. He denied that there is a scarcity of foreign exchange to the Central Bank, saying that the Central Bank has pumped liquidity into double EXCHANGERS, the source pointed out that there is the category of attempted exploitation of the political situation and the spreading rumors to serve their own purposes.

However, the tax expert and financial Abdalsid Rahman warned of a setback for the business through this publication, pointing out that it is working to increase the problem of the scarcity of foreign exchange before the business sector and pointed out that there are problems in the clearance of goods imported to the lack of foreign exchange to the traders, adding that the publication the central bank may act to disrupt the general imports in addition to the fact that this will increase the prices of commodities which affects the final consumer. The Abdalsid that there is pressure exerted on the commercial sector through taxes, which reached nearly 22% of the value of the invoice; the value of non-tariff on some goods.

And go in the same direction and working in the import source accounting publication that the central bank may act to disrupt the movement of commercial markets, pointing out that there are problems in the opening credits in foreign currency by banks to justify the central bank may rely on you to bring in their foreign exchange at the time of the Atemtlk banks, sufficient resources to attract foreign exchange, saying it depends on the central bank to cover their needs.

136 billion dollars in reserves, Libya's foreign exchange

Dubai: The Governor of the Central Bank of Libya to Libya's reserves of foreign exchange at the end of 2008 amounted to 136 billion dollars.

He said that the commercial banks to deal in connection with the services and the Islamic Bank of the Republic began to provide this service and the Commercial Bank and the Trade and Development Bank and the deserts of dealing in connection with the opening of the Islamic services.

He added in his report in the "statement" that the Bank of the UAE commercial banks, the Libyan Investment Corporation intends to fund the establishment of an investment worth 20 billion dinars, part of the fund will subscribe to the private sector to fund a promising business sectors. He also announced the launch of 15% of the Bank of the Republic of the private sector and the issuance of licenses for the establishment of foreign banks or with the participation of Libya in Libya in 2010.

He pointed out that the volume of bad debts up to one billion dinars in the past been granted to the private sector and loans to housing associations, as well as the local marketing companies and that there is extensive meetings with the Secretariat of Finance to discuss the debt so that the percentage of the volume of debt of 35% to about 20.4%, and the governor added that the Bank of Libya Central has developed a campaign of action to modernize and develop the banking sector from the sale of shares of the Bank of deserts to the foreign investor as well as the Bank of the unit, pointing out that the Monetary Policy Committee will consider at its next meeting in the interest rate to commercial banks.

See the art of forex Scalping

Forex Trading on the Internet and includes foreign exchange throughout the day thanks to the Internet. Each country's currency and its exchange rate against other currencies and is determined by the Government in that country. Currency exchange rate relies mainly on supply and demand in the international market. It was noted that the U.S. dollar is the most acceptable and reliable currency in the world of international trade. The dollar has always been the growing demand in international business and the money market. For example, in the case of business of the house like some of India's import of commercial goods from Bangkok. Indian currency is not acceptable in Bangkok, and then how to pay for them? This is the time trusted and reliable currency accepted a vital role to resolve the transaction. Party in Bangkok is ready to accept payment in dollars. Now the exchange rate of Indian rupee is fixed by the Indian government in return for the dollar. If the exchange rate of the rupee higher mean business house to spend more rupees to buy dollars and one that it will be a loss to pay more money in return for the dollar. A smart house work will wait until the exchange rates or appropriate. One can derive profits from trading in foreign exchange to buy the lowest price on the exchange and sale of an interest rate higher.
Currency trading involving a high degree of risk and reward, but that most appeals to business and businessmen who want to make from the moment of access to their investments. Because the work is highly volatile and unpredictable, and it requires professional speculation on fluctuations in the currency market. The foreign exchange market is open throughout the day and knowledge of the exchange rate of any currency, thanks to the Internet is just a click away at any time. Due to the ease of access to these and access to international currency in the world, many of the multinationals to attract investors to this huge profitable. One can buy any amount of currency in any category without any restriction. It organizes the work of self-traders from the rival group. Trading day in large part to the commercial activities carried out within the text during the day time and end with the end of the day. It is different in terms of online trading online trading is open round the clock. System of foreign exchange speculation includes various commercial activities. It is time-consuming and difficult for one person to focus on all the activities of commercial advantage. Investors should bear in mind that there is such a foreign exchange system was invented which could provide them with guaranteed returns on investment. May offer you the opportunity to earn big profits if you speculate and research on the Internet as the right to those businesses where you want to invest.