foreign exchange

The largest non-bank foreign exchange currency provider Travelex announced this week the launch of the first in the US prepaid foreign “currency cards” available in Euros and British Pounds that utilizes chip & PIN technology.

The Western Union Company announced that it had been granted license approvals from the Brazilian Central Bank and President Luiz Inácio Lula da Silva to operate a commercial bank and foreign exchange brokerage firm in Brazil.

Effective immediately, the license allows Western Union® to offer the Western Union® Money TransferSM services directly to consumers in Brazil and to introduce new financial services, including domestic money transfers, consumer bill payments and prepaid cards.

The Japanese yen gained for the first time in three days against the euro. The US dollar also strengthened on concerns that the global economic recovery is stalling boosted demand for safer assets.

The yen rose against all major counterparts after UK reports revealed that housing prices unexpectedly declined in July and before US reports about worker productivity growth. The Bank of Japan kept its benchmark overnight rate unchanged at 0.1 percent and maintained its credit programs for lenders by a unanimous vote.

MoneyGram International has added three new agents to its network in Paraguay. The new agent partners include Banco Familiar, Cambios Chaco and Multicambios.

Banco Familiar is a leading consumer bank in Paraguay, and has one of the largest banking branch networks in the country. Cambios Chaco, with 20 locations, and Multicambios with 30 branches - the most in the country - are experienced foreign exchange agencies. Banco Familiar and Cambios Chaco were formerly agents of MoneyGram's main competitor and now are offering MoneyGram services.

Currencies Direct, a foreign exchange and international payments provider based in the City of London, has launched a new prepaid euro MasterCard that targets at tourists, expats and business travelers. The card has the following features:

• Free to obtain
• Free to load, with no maintenance fees
• Secured with Chip and PIN technology

Alpari (US), LLC announced today the launch of new research, information and trading services for its Live Account holders. The features offered by the company will enable its account holders to make informed investment decisions and is expected to benefit both experienced and new investors alike.