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| 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.
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Last edited by dEsidEL on Jun-11-2005 at 03:20
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