Money transfer companies/remittance companies perform high-volume low-value transfers generally by economic migrants back to their home country. In 2007, the Aite Group estimated that there were $369 billion of remittances (an increase of 8% on the previous year). The four largest markets (India, China, Mexico and the Philippines) receive $95 billion. The largest and best known provider is Western Union with 345,000 agents globally, followed by UAE Exchange. Bureaux de change or currency transfer companies provide low value foreign exchange services for travelers. These are typically located at airports and stations or at tourist locations and allow physical notes to be exchanged from one currency to another. They access the foreign exchange markets via banks or non bank foreign exchange companies.

Money transfer/remittance companies and bureaux de change

FROM Wikipedia

1. AH Meltzer – A History of the Federal Reserve, Volume 2, Book 1; Books 1951–1969 University of Chicago Press, 1 February 2010 Retrieved 14 July 2012 ISBN 0226520013 2. (page 7 "fixed exchange rates" of) DF DeRosa –Options on Foreign Exchange Retrieved 15 July 2012 3. K Butcher – Forex Made Simple: A Beginner's Guide to Foreign Exchange Success John Wiley and Sons, 18 February 2011 Retrieved 13 July 2012 ISBN 0730375250 4.  J Madura – International Financial Management, Cengage Learning, 12 October 2011 Retrieved 14 July 2012 ISBN 0538482966 5. N DraKoln – Forex for Small Speculators Enlightened Financial Press, 1 April 2004 Retrieved 13 July 2012 ISBN 0966624580 6. (SFO Magazine, RR Wasendorf, Jr.) (INT) – Forex Trading PA Rosenstreich – The Evolution of FX and Emerging Markets Traders Press, 30 June 2009 Retrieved 13 July 2012 ISBN 1934354104 7.  J Jagerson, SW Hansen – All About Forex Trading McGraw-Hill Professional, 17 June 2011 Retrieved 13 July 2012 ISBN 007176822X 8. page 70 of Swoboda   9. G Gandolfo – International Finance and Open-Economy Macroeconomics Springer, 2002 Retrieved 15 July 2012 ISBN 3540434593 10. City of London: The History Random House, 31 December 2011 Retrieved 15 July 2012 ISBN 1448114721 11. "Thursday was aborted by news of a record assault on the dollar that forced the closing of most foreign exchange markets." in The outlook: Volume 45 published by Standard and Poor's Corporation – 1972 – Retrieved 15 July 2012 12. H Giersch, K-H Paqué, H Schmieding – The Fading Miracle: Four Decades of Market Economy in Germany Cambridge University Press, 10 November 1994 Retrieved 15 July 2012 ISBN 0521358698

References

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