Currency conversion means converting one country’s currency into the currency of another country. Anyone wanting to buy or sell a product or service in a country has to use the national currency prevalent there. When people travel to another country they have to change their country’s currency into the currency in use in the destination country. Conversion of the currency is a complex process and the exchange rate of a currency fluctuates continuously.
There are various economic, political and natural factors that can affect the currency exchange rate. The foreign exchange market is the biggest financial market in the world used by investors, even though it carries the highest risk among all the investment options. Without conversion of the currency it would be impossible for the governments and large corporations to do international trade. Many companies participate in currency speculation. They want to profit from the fluctuating rates of different currencies.
The fixed value of a currency allows everyone to figure out the amount of currency needed to buy a product or service. People can also check a currency’s relative value to another currency. To keep the exchange rate of its currency stable, the central bank of a country sometimes intervenes to sell or buy particular foreign currencies available to them. This is possible because in any country, the central bank is the largest holder of foreign currencies.
A country may use fixed exchange rate for its currency because of its economic policies or international agreements. There are other countries that allow their currency to float freely in the exchange market. Tourists wanting to visit another country must know the basics of money conversion. Otherwise they will face problems in buying any product or service. If tourists use their credit cards in another country then their transactions may be subject to fees. Over time all these fees add up. The total amount can be quite substantial.
In some countries it is possible to find merchants who charge credit cards in US dollars. This type of system is referred to as dynamic currency conversion. In this situation, buyers do not make payments in the local currency but in the currency of their country where the card was issued. At the same time, such transactions are subject to conversion fees charged by the merchant. This makes it necessary to check all these details with the card issuer before planning the trip to another country.
Mature and economically stable countries use a floating currency conversion system. It is considered more effective and efficient. In such markets, there is automatic correction of the currency value according to the economic conditions and inflation. However, in such a system the exchange rates may occasionally experience wild swings and cause losses to the investor.
Incentive programs are used to motivate individuals to achieve business goals and accomplish aims with the prospect of a reward, either monetary/material (money incentives or gifts) or honorary (employee recognition), in exchange for exemplary performance in the academe or in the workplace. Because of this, incentive programs work hand-in-hand with employee/student achievement recognition.
Incentive programs help increase productivity and helps motivate other employee’s to strive harder. This gives them a sense of accomplishment, making them strive more and be examples to other employee’s and students. This also in effect give out a positive attitude and yet with a healthy working environment.
Monetary incentives are definitely welcome among rank and file employees belonging in the lower income bracket, since these are tax-free giveaways from the company in exchange for an above-par performance. But what can management do when the top performing client is uninspired and is not after monetary incentives, since the amount he or she earns is more than enough? The answer to that is a promotion incentive.
Incentives come in different forms inside a company – money-based and promotion-based. It takes a sound and solid in-house character assessment team to notice when it is suitable to dangle money in exchange for an improved performance and when it is time that the deserving tenured employee gets a new workstation along with a new title and improved compensation. However, in this case, compensation is just a matter of formality and propriety.
Award programs provide numerous categories for the awards they hand out to employees. Some, like awards for milestones in service tenure, will take a long time and require dedication and loyalty. Still, there are awards that do not take very long to accomplish, including annual awards for performance-based recognition.
Investing in real estate is a wise investment but only if you do it correctly. If you do not invest wisely you could lose money and that is something that no one wants to do. When you invest in real estate wisely you can earn a large amount of money but as with any business you need to invest your brain and time into the venture.
Tips for investing in real estate
• As with any business make sure you do your homework. Research the real estate you are interested in investing in. You want to know about the average value of the property so you will know if the asking price is reasonable or too much. If the price is lower than the market value you need to find out why. Also knowing the value of the property will help you if you decide to sell it later and whether you will make a profit or not.
• If you are investing in real estate in order to rent it out to bring in money each month check to see what rental prices are in the neighborhood. Will the current monthly rentals on other properties bring you a profit or loss if you stay within the boundaries of other rental properties?
• There are many different fields in the real estate investment field so you should specialize in one field like foreclosure homes, small apartment buildings, starter homes, fixer-upper homes, etc. The reason is so you can concentrate on one area of real estate investment and not have your investments in several different fields. Specializing in one field will also help you stay current on the laws, taxes, etc in that field.
• If you are buying a building, home, small apartment building, etc make sure that before you make a bid you have a chance to look the property over. Make a good faith deposit if you decide that the property is something you want but also make sure that if the inspector you hired things wrong with it you can get your deposit back if the repairs are going to cost more than the property is worth.
• Make sure that you have a large enough cash flow to not only purchase the property but also pay any taxes, do any repairs that are necessary, and can keep it afloat until you get your first renters if you are purchasing property that you plan to rent out later.
If you have any questions about real estate investing find someone experienced in this field to answer all your questions. You also want to make sure that you are a good negotiator and do not give the asking price unless it is necessary. Try to negotiate a better deal if it is the property you want to invest in.
Investing in real estate has been profitable for investors for many decades now. Depending on market conditions there’s money to be made most of the times. The real estate Kolkata market is one of the prime property markets in India with residential project in Kolkata yielding good profits since there is always a good demand for flats / apartments in the city.