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Currency transactions are mostly involved in the process of making payments whenever we import and export something and it also involved during foreign tourism. Moreover all the foreign-exchange relations that happen during the economic, scientific, cultural and political cooperation among various countries and states assume the form of currency transactions. These are also termed as means by which various parties engage in trade, payment and international relations meet their obligations. There are various forms of currency transactions during international payments are: • Letters of credit. • Collection operations. • Exchange authorization. Every country has its own foreign-exchange legislation which determines the procedures and methods to be deployed for carrying out currency transactions. There are also several reports which are published related to currency transactions reports. These reports are required to file during each withdrawal, deposit or any kind of payment transfer. This type of report is required to be filled only whenever there is a transaction which is more than $10000. The purpose of keeping a strong check and track on currency transactions is to stop illegal money laundering which not only degrades the economic situation of the countries but also leaves very bad long term effect over the financial institutions across the countries and states. FREE currency is a currency which can be sold and bought without any government restriction. This type of currency is getting quite popular and various dedicated platforms are being built for FREE currency so that it can flow through the mobile phones and the internet. As we all know that money is a very essential item and it should be scarce otherwise the entire world will turn into artificial scarcity even if we have sufficient and abundant resources. Moreover money should be allowed to flow freely everywhere such as markets, companies and international communities. As per the recent estimates and studies millions of FREE currency options are bound to get circulated and these will not be controlled by states or central banks in fact it will be issued and controlled by people who are willing to get out of the conventional-debt based methods and don’t want to have interest based money. There are going to be some major benefits of free currency options such as entire wealth will smoothly flow across all the channels weather it is local channel or international channel. It will ensure right and perfect supply of money across all levels. However there are few initial and important steps that are required to implement the concept of FREE currency such as we have to achieve beta testing and coding levels, achievement of sms and voice server transactions through mobile phones and we need to develop a strong and secure graphic user interface which is best and excellent in terms of its overall performance. For more information visit: http://www.moneymofx.com/
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Currency Transactions, International payments,
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