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killbillgr21 06-11-2011 00:24

currency exchange offices
 
Hello guys
I am new in the forum.I have some basic knowledge about forex.Although,I have an assignment to do for university and I need some help from the experts on this forum. My question is:where do the currency exchange offices supply money from? They sell on more expensive rates, so they need to get money with the current rate in stock market in order to make money from the spread.If you have any additional information I would like to tell me.
Please help me out

FXEQBDRE 06-11-2011 13:29

Re: currency exchange offices
 
Quote:

Originally Posted by killbillgr21 (Post 10560)
Hello guys
I am new in the forum.I have some basic knowledge about forex.Although,I have an assignment to do for university and I need some help from the experts on this forum. My question is:where do the currency exchange offices supply money from? They sell on more expensive rates, so they need to get money with the current rate in stock market in order to make money from the spread.If you have any additional information I would like to tell me.
Please help me out

It depends on the Currency Exchange location. The ones at airports are pay much higher rents and give worse exchange rates. I think most are like ATM's, they have X units of each of the major currencies, and go to the national bank, finance ministry, or regulation agency to exchange currencies when they need to.

henryduncan12 28-11-2011 11:23

Re: currency exchange offices
 
Quote:

Originally Posted by FXEQBDRE (Post 10561)
It depends on the Currency Exchange location. The ones at airports are pay much higher rents and give worse exchange rates.

No, Currency Exchange rate is decided on the basis of international Currency Exchange rate of that particular currency.


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