I went to a site where you buy foreign currency at the current exchange rate... long story short, am I really gonna get 1,000 yen for $10? And 1,000 Korean won for less that $2? I've also got 10 dirhams for $3.28, 200 shillings for $3.25, and 10.00 guatemalan quetzals for $1.58.
And sorry if this Q is missplaced, I didn't really know which category it fit in.
2006-09-24 17:03:24 · 3 answers · asked by mouse001 4 in Business & Finance ➔ Other - Business & Finance
Well, what kind of business would they be if they didn't make a profit?
2006-09-24 17:07:21 · update #1
Hello longshiren, and forex is the name of the site I was on. Ezforex.
And where else can I go to get foreign currency?
2006-09-24 17:47:53 · update #2
When I read my Q over again, I didn't like how I worded it. I guess a better way would be to say, "Am I going to be sent 1,000 Japanese "$1" bills?"
That's better :D
2006-09-25 13:58:05 · update #3
Hello Mouse,
You can see currency exchange rates on Yahoo and many places on the net, and Yen is about 116 to the dollar, Won is about 944 per dollar (1888 for 2 dollars) so there seems to be some discrepancy here.
Banks often charge 2 to 5 percent exchange rates. Some currency exchange places charge a fee plus a percentage. Today, at my Tokyo branch of Yokohama Bank, Yen can be bought for 109 to the dollar.
You should look up foreign exchange (forex) at Answers.com and study up on currency rates and investing.
good luck.
2006-09-24 17:30:47 · answer #1 · answered by Longshiren 6 · 0⤊ 0⤋
1000yen for $10 is not really a good deal. 1000 yen is not like $1000 US it is more like 10.00 US. I live in Okinawa Japan for a while and the exchange rate about 2 years ago was about 116yen to the dollar and that was okay about 124yen to the dollar is better.
2006-09-25 03:22:07 · answer #2 · answered by freshochild2000 2 · 1⤊ 0⤋
10 US dollars are worth about 1163.8 yen, and 2 dollars are worth about 1891.36 won. So it looks like you're getting ripped off. :P
2006-09-25 00:05:33 · answer #3 · answered by Anonymous · 1⤊ 0⤋