Answers
Its like this. I am planning to go abroad and wish to buy foreign exchange. I don't know who is offering the best rates. Moreover, I am looking to buy different currencies e.g. UAE Dirham, Euro, Swiss Franks and US dollars. On which website in India can I get live quotes for the best rates available for all these, and other, foreign currencies?
visit rbi website...
In foreign exchange markets, the base currency is the first currency in a currency pair. The second currency is named the quote currency, counter ...
The spot rate for the Swiss Franc has been around 1 to 1.05 francs to every dollar in the past few months, according to Yahoo Finance. When I ask a local Forex dealer to exchange dollar for Swiss Francs, they want $305 for 300 Francs which is quite far from the spot rate (and doesn't include the service fee.)
I've consulted quite a few dealers and they all want more than $1 for 1 Franc. I've only looked at dealers and banks in the US.. I'd rather have a few hundred Francs in emergency cash when I arrive in Switzerland to avoid paying the ripoff rates at the airport.
Even though $1 is worth more than 1 Franc, I'm still happy if I can get an effective exchange rate (after fees and royalties) of 1 to 1. Is this possible or am I not looking in the right places?
Probably not, everyone will charge a "convenience fee" for the conversion, which is built into their conversion factor.
I need to exchange Iraq money into $ and all banks tell me I need an account. Are there laws that I can quote stating they should help me? There seems to be nowhere else to get tis done.
Two things: first, you don't need to have a bank account to exchange currency, and there is no law that says you have to.
However, banks can choose who they want to do business with, and they can refuse to do business with you if you're not their customer.
Call banks to see who will help in your area. You can also look in the yellow pages under currency exchange.
Or, you can open a bank account and do it the way everyone else does: go to YOUR bank and exchange currency.
I wrote an article about foreign exchange students in my high school yearbook and I want to end it with this....
Always remember Atticus' advice in Harper Lee's To Kill a Mockinbird, "You never really understand a person until you consider things from his point of view - until you climb into his skin and walk around in it."
So, is that adequate citation by including the author and the name of the book? I wasn't sure if I have to include anything else.
Thanksss :)
That's just fine.
What are the exact quotes from his speech were he says this stuff
it's at
tellnyouanotherfatone.com
Relative Valuation In The Foreign Exchange Market
The greatest dissimilitude between trading in the foreign exchange bazaar and trading in all other pecuniary markets is the contrast between friendless valuation versus reliant on valuation. Reclusive valuation is familiar suspect for most people and is the way that most investors see property prices and other monetary markets, but conditioned by valuation is a skimpy bit more deceptive and it is what can travel forex trading more involved in some ways than funds or customary commodity trading. When you look at a roots market-place quote you will large see the begetter value quoted in a dollar amount, and this of despatch is the universal way that we value things in accounting. However, valuing a currency is a discrete course of action, because you cannot value the US dollar in terms of dollars so it then becomes signal to value one currency in terms of another currency. It is for this calculate that all foreign exchange transactions take status with currency pairs, and this is called applicable valuation where one currency's value is listed ancillary to to another currency. In a currency marry such as the EUR/USD, the first currency listed in the yoke is called the "filthy currency" and the other currency listed is called the "quote currency." It is top-level to commemorate that all exchange gait quotes are quoted in established currency pairs, and while to the untrained eye it may seem like the pairing of manifold currencies is done in a adventitious sequence which then became the activity type, there is in reality a moderately complain deduction behind the ordering of most of the primary currency pairs. For most of the main currency pairs that are traded we see that the US dollar is most often quoted as the derive currency such as the USD/JPY and USD/CHF pairs. The reasoning this is so is because the USD has typically and historically had a higher value than these currencies, and so it makes import to keep it valued at 1 so that any changes in value of the other currency become patently ostensible. The only exceptions to this authority are the EUR,...
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