Forex Managed Accounts

Posts Tagged ‘exchange rate’

I know there’s the whole hard currency vs. weak currency issue. I can also understand how the sellers of these currencies earn money throught the black market trading.

But what is really confusing me is that why would anyone be willing to exchange up to or even more than double the official exchange rate in black market for a stronger currency (say wanting to buy USD with Zimbabwe dollars)? Why can’t they just exchange it at a cheaper exchange rate at the legal exchange places?

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Technorati Tags: currencies, currency issue, exchange rate, hard currency, money, official exchange, zimbabwe, zimbabwe dollars

I traveled and came back to the US, with a bunch of currency from Trinidad, Costa Rica and the Dominican Republic. How can I get the best exchange to US Dollars, as close as possible to the going exchange rate?
I traveled and came back to the US, with a bunch of currency from Trinidad, Costa Rica and the Dominican Republic. How can I get the best exchange to US Dollars, as close as possible to the going exchange rate?

I am exchanging the currency in New York.

Also, compared to the listed exchange rates for these currencies, what percentage of the cash can I expect to get back when exchanging? for example, for one of the currencies the rate was approx. 34 units to 1 US$ on a particular day, yet a currency exchange place was offering 41 units to 1 US$. Is this a reasonable difference?

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Technorati Tags: best exchange, costa rica, currencies, currency exchange, dominican republic, exchange rate, exchange rates, trinidad

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?

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Technorati Tags: currency, exchange rate, exchange rates, rates of exchange, yuan