FOREX or FX refers to foreign exchange market. It is a market where brokerage firms and banks interact jointly on a regular basis with the help of Electronic Communication Networks (ECN) to buy or to sell currencies worldwide with the objective to make profits by speculating on the variation of currency exchange rates. The three functions of the FOREX market are defined as follow: (Cherunilam 2007, p.275) A foreign exchange market performs three important functions: (i) transfer of purchasing power
independence in 1991, the Republic of Azerbaijan experienced a drastic decline in its economic output. The GDP decreased annually 13-20% and in 1994, according to the related data from the International Monetary Fund, GDP with the official exchange rate reached 2.258 billion USD that indicated the fact that the national economy was significantly weakened. The war with Armenia along with the deterioration of trade relations with other former Soviet republics was evidently among the major factors of such economic
Business. 3. Cozmei, Cătălina, and Florentin Caloian. April 2012. “The Bitcoin Economy, an Anti-Crisis Remedy?” 156-163. Revista Economică. 4. Moore, Tyler and Nicolas Christin. April 2013. “Beware the Middleman: Empirical Analysis of Bitcoin-Exchange Risk” Proceedings of Financial Cryptography 2013. 5. Mt.Gox Daily Bitcoin Closing Price. July 2010 – May 2013. Bitcoin Charts. http://bitcoincharts.com/charts/mtgoxUSD#m1g10zm2g25zv (accessed May 2, 2013).
first time in its history, was not depended on oil and gas exportation. In 2005 with presidency on Ahmadinejad, a close person to supreme leader, everything change for the country. Within the first 4 years of his presidency the oil price reached a historical record and the oil and gas exportation income in those 4 years were higher than Iran’s whole importation till that day XXX. In the second round of his presidency, Iran was faced with hard western countries sanctions because of its nuclear development
Kong economy picked up to moderate growth in 2013 As the diagram above reveals, in the past 5 years, Hong Kong’s economic performance experienced two major declines. The worse one was during the Subprime Mortgage Crisis started from 2007, Hong Kong’s rate of change in real terms decreased significantly compared to its growth trend in the previous years. However, compared to the other countries, such as the US and UK, it was less cyclical affected and the recovery in Hong Kong economy had a better performance
level, from the company's historical perspective. As a professional equity portfolio manager, who has a large number of AEM stocks on hand. Acker and his team are necessary to find a proper way to estimated the fair value of AEM as well as its equity. Discounted Cash Flow (DCF) has been chosen to do this job. The theory behind DCF valuation approach is that the firm's value can be estimated by using the expected future free cash flow discounted by an appropriate discounted rate (Koller etc 2005). However
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growth rate . The population of Nigeria represents 2.35 percent of the world´s total population which arguably means that one person in every 43 people on the planet is a resident of Nigeria. Its labor force constitute 1/3 of its population as close to half of its population are aged below 14 years and less than 5% aged 60 and above due to poverty or diseases. (UN 2013) However with its large population, it faces huge unemployment rate of 23.9% in 2011, up from 21.1% in 2010. Its average rate was 14