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Federal Reserve Raises Rates For The First Time Since 2006

CXI December 16th, 2015

 

It has been nearly a decade since The Federal Reserve has raised rates. But this has now changed since the key interest rate went up to 0.25% on Wednesday.

This decision to raise key interest rates has become a big moment for the U.S. economy proving that it has slowly shown signs of recovering from the global financial crisis.

 

 

The decision would most likely show good signs for the economy. Proving the central bank is more confident than ever before by raising the rates on Wednesday, by 25 basis points which is now 0.25%, according to CNN money.

But what exactly does this mean for U.S. travelers? Well, CNN Money reports “Higher rates will make the dollar stronger. A strong dollar is a nice perk for U.S. travelers.”

And we all know what that means, it’s time for you to ring in the New Year with new exotic destinations and experience the amazing benefits of enjoying more value for your dollar abroad. 

 

 

Parts of information to this article are from money.cnn.com by Patrick Gillespie

 

About Currency Exchange International
Currency Exchange International (CXI) is a leading provider of foreign currency exchange services in North America for financial institutions, corporations and travelers. Products and services for international travelers include access to buy and sell more than 80 foreign currencies, multi-currency cash passport’s and traveler’s cheques. For financial institutions, our services include the exchange of foreign currencies, international wire transfers, purchase and sale of foreign bank drafts, international traveler’s cheques, and foreign cheque clearing through the use of CXI’s innovative CEIFX web-based FX software www.ceifx.com.
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