Traveller’s Check: The Ideal Forex Option

Travelling is a very pleasurable experience, especially if you are backed by a reliable foreign exchange medium such as a traveller’s check.

According to Traveller’s Cheques Still First Choice article posted on the Johnnic Media Investments Limited website, there’s a growing popularity on the usage of traveller’s checks over credit and debit cards lately in the South American market. Compared to last year, "the number of transactions (involving traveller’s checks) rose by 14% and the average rand value of transactions increased by 11%".

This "testifies to the enduring popularity of the traveller’s cheque which, in spite of alternatives such as credit and debit cards, remains the first-choice foreign exchange medium of many South Americans. And even though Amex (American Express) offers a full range of foreign exchange options, from cash to travel-specific cards, the traveller’s cheque" is still the one often advised as more advantageous on the part of the consumer.

Key Steps Before Investing

Investing is no joke, especially these days when economies can fall unpredictably and companies can close unnoticeably. Saving money and earning from it should be the main objective of everybody in these unsure times.

Seeking professional help on where to invest money is a must for people with lots of cash to keep or intend to keep in the future. For this reason, Citibank’s Head of Branch Banking Products for Malaysia Charles Sik gives the following pointers for people who look forward to investments, particularly on the advent of foreign exchange deregulation.

To wit, he highlights that investors should:

1. "Take time to fully understand how investing abroad matches their goals and risk tolerance."
   
2. "Ensure that their portfolios remain well diversified across cash/non cash, local/foreign, bond and equities."
   
3. "Select carefully from the new range of products coming into the market to ensure suitability and credibility of product provider."

Sik suggests people to log onto www.citigroup.com for more details on investment options.

Source: Citibank Welcomes Relaxation of Foreign Exchange Administration, news.citigroup.com

Citibank Study Finds Malaysia Cash-Based

Cash and deposits still dominate the Malaysian household wallet at 44% compared to the United State’s mere 18%, according to the study conducted by Citibank in 2004.

The immediate result of such a concentration of cash, the study emphasized, is to create a drag on real returns over the long run.

It’s a good thing that the Malaysian government recently imposed a new regulation for foreign exchange, which will entice investors to find alternative options to cash and alleviate the effect of a highly cash-based financial sector.

Asked what it has to say on the new changes in Malaysia’s foreign exchange, Citibank finds the move an encouraging one especially for Malaysians who now have the option to save smarter, not just harder with the opportunity to manage their investments more efficiently.

"We…advise our clients in the Asia Pacific region to include globally diversified investment products in their portfolios…consider their options carefully and seek professional advice when making investment decisions," said two of Citibank’s department officers.

Source: Citibank Welcomes Relaxation of Foreign Exchange Administration, news.citigroup.com