Currency Conversion


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Currency Conversion

 

a change of the face value of paper money in which old banknotes are exchanged at a certain rate for new monetary units. Simultaneously, prices, tariffs, and wages and salaries are converted at the same rate. As a rule, currency conversion is a result of inflation and serves the purpose of regulating money circulation (in capitalist countries) but may also be connected with the simplification of accounting procedures (in socialist countries).

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Planet Payment's Dynamic Currency Conversion (DCC) solution offers international visitors the convenience of choosing to pay in Saudi Riyals or their local currency when they transact at enabled ATM's, hotels, retail, restaurant or duty-free outlets across the Kingdom.
75 per cent currency conversion fee on foreign purchases.
Shop around when choosing a credit card to avoid the hassle of the foreign currency conversion fee.
To manage foreign exchange risk, large and small companies alike must effectively gather and digest a large volume of information, including spot and forward exchange rates, currency conversion and funds transfer fees and government regulations regarding allowable transactions and currency controls.
With Dynamic Currency Conversion, international MasterCard and Visa card customers can pay in their home currency at the point of sale -- providing greater convenience and clarity, while eliminating the guesswork associated with international payments.
Indian refiners would have to pay more if bills are cleared on current currency conversion rates.
In June, the central bank went into a currency conversion agreement with the Angolan central bank and this month the bank removed the diamond security feature from the country's two low denomination notes, which were put into circulation a day ago.
A deal has been signed by Planet Payment, Inc and Moneris Solutions Corporation (Moneris) to supply currency conversion functionality at the checkout to Moneris portfolio of merchants in Canada.
HSBC Merchant Services in Malta has announced that it has launched a new currency conversion facility.
Namibia has inked a currency conversion agreement with Angola in a development expected to cut costs and help boost cross-border trade between them, effective six months from the date of signing.
Regardless of any local currency, customers consuming abroad with this credit card may unconditionally enjoy exemption of currency conversion fee.
National Bank Financial Wealth Management has just introduced a multi-currency account that allows clients to make investments in stocks, bonds and other securities from the four corners of the earth without incurring repeated currency conversion costs.