FOR SALE: Euros @ 1.5712 (cash rate)

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-- FOR SALE: Euros @ 1.5712 (cash rate)

Posted by dEsidEL on Jun-09-2005 23:35:

FOR SALE: Euros @ 1.5712 (cash rate)

if anyone needs to buy some Euros i hav some for sale @ 1.5712. pls. note this is a (cash) rate, not non-cash ie. cheque, wire, etc.

they are only available until tommorow so pls lemme know asap via. PM if so ..

i will be in the downtown area tommorow afternoon

thanks

Posted by Jayx1 on Jun-09-2005 23:36:

Re: FOR SALE: Euros @ 1.5712

quote:
Originally posted by dEsidEL

if anyone needs to buy some Euros i hav some for sale @ 1.5712

they are only available until tommorow so pls lemme know asap via. PM if so ..

i will be in the downtown area tommorow afternoon

thanks

Thats a bit steep considering they are 1.53 at the moment

Posted by dEsidEL on Jun-09-2005 23:36:

Re: Re: FOR SALE: Euros @ 1.5712

quote:
Originally posted by Jayx1
Thats a bit steep considering they are 1.53 at the moment

whereabouts ?

Posted by Jayx1 on Jun-09-2005 23:41:

check any online exchange such as yahoo currency exchange. Todays rate is 1.53 and was 1.51 a few days ago.

Posted by dEsidEL on Jun-09-2005 23:43:

quote:
Originally posted by Jayx1
check any online exchange such as yahoo currency exchange. Todays rate is 1.53 and was 1.51 a few days ago.

yeah but is that a cash rate or a non-cash rate ? it's different depending on what you wanna do. in addition, where can a rate that low be found through a bank/exchange office in TO ?

if you can tell me , then i'll gladly go there and purchase more at such a rate ..

Posted by Jayx1 on Jun-09-2005 23:46:

usually they mark it up by 1.5% so the sell rate at the bank is most likely 1.55

Posted by dEsidEL on Jun-09-2005 23:49:

quote:
Originally posted by Jayx1
usually they mark it up by 1.5% so the sell rate at the bank is most likely 1.55

that's what i mean, there are overhead costs associated when u purchase the currency through the bank. in an ideal world we'd be paying 1.53 which is the true value of the currency at the moment, but that's not the case in reality, esp. on a cash exchange. the currency that i'm selling is at the settlement rate when i purchased it. i just ended up with a surplus which i don't need at the moment.

btw. most banks usually only publish their non-cash rate. there's usually about a 1.5 cent variance when you're purchasing it in cash.

anyways, if anyone still needs some pls. lemme know

Posted by Jayx1 on Jun-09-2005 23:50:

quote:
Originally posted by dEsidEL

that's what i mean, there are overhead costs associated when u purchase the currency through the bank. in an ideal world we'd be paying 1.53 which is the true value of the currency at the moment, but that's not the case in reality, esp. on a cash exchange.

anyways, if anyone still needs some pls. lemme know

My point is if you sold it to the bank right now youd be getting about 1.49 back... so 1.57 is pretty high

Posted by dEsidEL on Jun-09-2005 23:53:

quote:
Originally posted by Jayx1
My point is if you sold it to the bank right now youd be getting about 1.49 back... so 1.57 is pretty high

yeah no kidding, the bank isn't in the business of losing money

Posted by jon jon on Jun-10-2005 01:01:

lol Emery this was an uphill battle from the beginning! Selling cash never really works for anyone. hah

Posted by Jayx1 on Jun-10-2005 08:26:

quote:
Originally posted by halo20
lol Emery this was an uphill battle from the beginning! Selling cash never really works for anyone. hah

He needs to lower his rate to somewhere in between the banks buy and sell rate. Id say 1.52-1.54

Selling it at a premium above whatever the bank even charges isnt exactly going to make people run to buy his euros.

Posted by rabbitjoker on Jun-10-2005 16:19:

quote:
Originally posted by Jayx1
Selling it at a premium above whatever the bank even charges isnt exactly going to make people run to buy his euros.

1.5712 and a rimmer though?... Now we're talkin'!

Posted by Jayx1 on Jun-10-2005 16:43:

Today's rate for the Euro is 1.51.

That means you will be lucky to get 1.46 at the bank for them. Id dump that devaluating currency as fast as possible. Only a sucker will pay 10 cents more than they are worth.

Posted by rabbitjoker on Jun-10-2005 16:46:

quote:
Originally posted by Jayx1
a sucker ... 10 cents more than they are worth.

A sucker + 0.10 cents more then they are worth?... Now we're talkin'!

Posted by Jayx1 on Jun-10-2005 16:47:

quote:
Originally posted by rabbitjoker
A sucker + 0.10 cents more then they are worth?... Now we're talkin'!

ahahahahhaha

actually its cheaper than that in eastern europe so ive heard

sucky sucky fucky fucky?

Posted by dEsidEL on Jun-11-2005 03:06:

quote:
Originally posted by Jayx1
He needs to lower his rate to somewhere in between the banks buy and sell rate. Id say 1.52-1.54

Selling it at a premium above whatever the bank even charges isnt exactly going to make people run to buy his euros.

i managed to sell them today for the rate i bought them at ..

i encourage you to find me someone who sells them at 1.52 - 1.54 in (cash) , not a (non-cash) rate. the rate you see on yahoo.com does not take into account overhead costs when dealing an exchange, nor is it a cash rate. that's the rate you'd be close too if you were exchanging it through electronic means, or purchasing them in non-cash tender like traveller's cheques.

why would i want to sell them at a loss? i'm just trying to get back what i paid for them. the buy/sell spread is the markup the bank charges in order to make profit from a foreign exchange, which is not what i'm trying to do here.

good luck trying to find a bank who's gonna sell them at anywhere near ur 1.52-1.54 in (hard cash).

anyways, it's sold.