Guides

What is Devaluation and Why Does it Matter for Remittances?

TL;DR:

• Devaluation deliberately lowers a nation's currency value, often affecting trade balance.
• Examples include Argentina's 70% currency drop in 2001, the British pound's 14% fall in 1967, and the Russian ruble in 2022.
• Monitoring economic indicators and diversifying investments can mitigate personal risks. It would also increase the value of your transfer.

What is the Mid-Market Exchange Rate?

The mid-market exchange rate is the middle point set by how much people want to buy or sell a currency. Things like investments, the economy, world events, and what people think can change this rate. But when you send money, you might not get this exact rate because companies add their own fees. It's good to check and compare rates using tools like Sendrater. Also, think about when to send mone...

Understanding Fixed vs Flexible Exchange Rates: What You Need to Know

Do you know why your money's value changes across borders? It's all about exchange rates. While governments might fix them for stability, market forces can make them flexible, bringing both freedom and risks. But there's more – pegged rates, managed floats, devaluations and influences like politics and inflation pl...

How to Send Money to People Without a Bank Account?

Sending money to individuals without a bank account is feasible through various methods. Cash pickup services such as Western Union provide a straightforward approach, albeit often with higher fees. Mobile money solutions like M-Pesa are increasingly popular, enabling direct transfers to mobile accounts. Digital wallets offer another option, particularly in developing nations. Prepaid cards and...

What are Swift Codes & Is it Possible Transfer Money without Them?

Ever wondered why your international money transfer got delayed or ended up in the wrong account? The Swift Code is often the overlooked key. This unique identifier is more than just a random string of characters; it's the backbone of global banking that ensures your funds reach their intended destination. Understanding Swift Codes can make your international transactions not just seamless...