Answers
I am confused with the rates of exchange. I received a 10 yuan from someone and checked on line to see the exchange rate. I continued to see different exchange rates between different countries and the USD. Anyway my question is, if you can get per say 500 of a certain currency for one usd, does that usually mean that you can buy a lot more there for "less" if we were to be talking about its cost in USD?
No. The absolute number of units in one currency vs another currency doesn't tell you much. The change in the exchange rate can show you more about it's power compared to another country. You can look up data on purchase power parity to see how currencies compare in purchase power.
www.fairfx.com - Stephen Heath, Chief Executive of the company behind the FairFX Travel Money Card calls for greater transparency in the foreign ...
Where is the best place to go in California to get the best currency exchange. I want to excange $USD to British Pounds. Who offers this service at the lowest rates?
If you know someone that is going to UK sell it to them. Banks and such usually charge a commission of few percent. This way you and the person going to UK will benefit.
If I travel abroad and need to exchange currency before I go, (1) where can i exchange it? and (2) is there a fee to change my money from US dollars to Euros or Yen?
You can get it from your bank. Many offer the service without fees to certain depositors. Exchange rates aren't the best, but the convenience is worth it. Every financial institution uses different criteria to determine its exchange rates and fees. You can look online to find the best rates, but if it's not your own bank, you'll pay for the service.
Most major currencies are available at large banks in large cities. If you're in a smaller city and your destination currency isn't available at a bank, you should be able to get it at the airport in the international terminal.
Still, if you can, avoid changing money in airports and train stations where fees can be higher.
When abroad, whether you use a credit card, debit card, traveler's checks or cash, you'll be charged to convert your dollars to euros, pounds or whatever.
I'm travelling to Brazil, and not sure how the exchange works. I am advised to exchange my money at a jewelry store, but don't know any nearby the place I'm going to. Do the jewelries store really accept currency exchanged?
The airports don't charge any extra just whatever the exchange rate is. I've noticed though that the airport rate is usually a little lower. You can often get a higher rate at the hotels or closer to your location. Just wait and see if you can exchange at your hotel, if not they can usually advise you where to go. Make sure that you are aware of what the current rate is so you know if the rate they quote is a fair one.
Went to a foreign country and bought the local currency at a black market because they gave more per dollar than the banks. How do they profit if the exchange rate constantly change? What is the theory behind it?
bobby v, I found a list of US foreign currency exchanges. http://www.whatisforextrading.com Try calling one of them and see if they have a representative that can help you.
Yen Gains Most in 2 Weeks on Falling Stocks, Producer Prices
Oct. 14 (Bloomberg) -- The yen gained the most against the euro in almost two weeks as Japanese stocks declined and a Bank of Japan report showed producer prices fell for a ninth month, boosting demand for the currency as a refuge.
The yen advanced against all 16 of its major counterparts after data from Japan’s central bank, which kept its benchmark interest rate unchanged today, spurred speculation that deflation will deepen. The dollar fell to a 14-month low against the euro before a U.S. report forecast to show retail sales dropped last month by the most this year, supporting the case for the Federal Reserve to keep interest rates low.
“The recovery in Japan’s economy is likely to lag that of other countries,” said Tsutomu Soma , a bond and currency dealer at Okasan Securities Co. Ltd. in Tokyo. “This may cause risk aversion and buying of the yen.”
The yen rose 0.6 percent to 132.49 per euro at 7:01 a.m. in London from 133.26 in New York yesterday. The intraday gain was the largest since Oct. 1. The Japanese currency advanced to 89.00 per dollar from 89.71. The dollar fell to $1.4887 per euro from $1.4854. Earlier it touched $1.4890, the weakest level since August 2008.
West Of The Fourth: On Currency Exchange Rates, Canadian ...
Jim Stanford has a definitely admissible (OK, clever) column in the Ball and Letters today where he suggests that one way to helm check in the rising Canadian dollar is to pedicel the curb of oil exports from Canada. The unexcitedly, indolent way to advance a earn the dollar down is to crop interest rates, but they are currently close to being zero. And, in patient you hadn't noticed, in part because of these low interest rates and an conservation that is, perhaps, not as bad as some had feared, shelter prices in Canada are rising again. The Canadian Verifiable Mansion Cooperative reports that regular existing core prices in August 2009 were 11% higher than the year before, lawful before the meltdown happened in the Unified States. A control superiors way, according to Stanford, to discourse the dollar's escalate, is to bound our larger export, oil. But here's where diplomacy comes in. We've been through this before, in the 1979 oil assess surprise when three sets of players (Alberta/Saskatchewan, the federal supervision, unsocial oil companies) all wanted a appropriate of skyrocketing oil profits. That was what Trudeau's Public Force Project was all about, making certain the country-wide administration got a apportion of the serendipitous find, unearned profits that. Of programme naturally, the Alberta regime wanted its spotless cut and reacted strongly. What people don't retain is that the two levels of administration negotiated a satisfaction to the disagreement that was comparatively enshrined in the 1982 constitutional compatibility. The provinces ownership of non-renewable resources was clarified, but there were limitations imposed on a countryside's gift to segregate in prices vis-a-vis other Canadian provinces. In little, the compromise end to the NEP was a heart disposition that retained a r for the country-wide regulation in making spirit behaviour. Then came Mulroney. In an elbow-grease to appease the mad-dogs in his Alberta caucus, and before he signed the Open Dealings Concord, he signed the Western Agree that ended any federal r in dictating exports or capturing unembellished resource revenues from...
News
Yen Gains Most in 2 Weeks on Falling Stocks, Producer PricesBloomberg - Oct 14, 2009
“The recovery in Japan's economy is likely to lag that of other countries,” said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co. China wants a global currency, but it's to blame for dollar's declineDollar breaks 95-cents US markDollar hits 14-month low vs currency basket - -all 302 news articles »MarketWatch - Oct 14, 2009
RTE.ieThe front-month contract posted a climb of 88 cents to finish at $74.15 on the New York Mercantile Exchange Tuesday -- the highest settlement for a Oil prices near a new high for the yearOil Rises to Seven-Week High as Global Demand Is Revised HigherOil extends rally as dollar hits 14-month low - -all 1,300 news articles »
Bloomberg - Oct 14, 2009
Policy makers halted the currency's gains against the dollar in July 2008 after a 21 percent increase over the previous three years. China's forex reserve hits record $2.27 trlnall 13 news articles »Wall Street Journal - Oct 13, 2009
ReutersJ&J 3Q Net Up 1.1%; Boosts '09 OutlookAlso, heightened generic competition has hurt its prescription-drug business, while unfavorable currency-exchange rates have pulled down sales growth for Highlights From JNJ's Q3 Conference Call: Worldwide Sales Down 5.3% Vs. Last Johnson & Johnson Reports 2009 Third-Quarter Results:Medical device sales at J&J beat pharma revenues for the second quarter runningall 945 news articles »
Bloomberg - Oct 13, 2009
Globe and MailCanada's Dollar Is Near 14-Month High, Approaching US Parity an online foreign-exchange dealer. The Canadian currency appreciated 0.2 percent to C$1.0327 per US dollar at 4:46 pm in Toronto, compared with C$1.0348 Strong dollar will pinch bottom lineANALYSIS: Market doesn't buy tough Bank of Canada talk on loonieWhy the US dollar's decline means a rise in global fortunes - -all 337 news articles »