So I read the news that the GB Pound is losing its value against the Euro. But is steady against the US Dollar.
So what if someone exchanges his US Dollar for Euros, then exchanges his Euro for GB Pound and then back to US Dollars … wouldn’t that mean he will have more dollars than what he initially started with?
Yeah yeah .. I know there are fees involved. But if we assume no transaction fees?
Re: Exchange rate question
Yes one may have more dollars but with little buying power? like one can have a One Million Zimbabwe Dollar, convert it into US Dollar and then convert it back, it will be two Million Zimb. Dollar but with will buy less than the earlier One Million Zimb dollar would have....
the key in exchange business is the right timing, it is more or less a trading of a certian commodity, which has demand and supply, along with its up and down trends....