At the bank I was only going to get 1800 shekels (it was 1800 even, I think they are skimming money off the top the money didn’t match the 3.05) instead of 2100 shekels. and they spelled it sheqels instead of shekels. somebody was there who hadn’t done this before; maybe the messed up, but the machine showed Israel sheqels N

my questions
1. what is a good conversion rate.

2. where can I find that rate.

3. any other fees involved that I should look out for.

thank you for your help and sorry about the poor grammar
gotchya on the exchange rate thing, I thought that the fee was charged as a percent of total money converted. I kinda thought $ 500-$ 3000 was the norm as far as currency exchange, I don’t know a lot of people with $ 10,000+ who are not investors. with the Israel thing I don’t pretend to be a expert but wasn’t that a different currency dealing with inflation? like the old shekel or something.

If I am trying to counteract inflation what would you opinion be on what to buy with that money. I am not buying a third of a ounce of gold but any other ideas would be appreciated.

note: I will be away and will not respond for another 6-24 hours, I’m not dissing anyone
gotchya on the exchange rate thing, I thought that the fee was charged as a percent of total money converted. I kinda thought $ 500-$ 3000 was the norm as far as currency exchange, I don’t know a lot of people with $ 10,000+ who are not investors. with the Israel thing I don’t pretend to be a expert but wasn’t that a different currency dealing with inflation? like the old shekel or something.

If I am trying to counteract inflation what would you opinion be on what to buy with that money. I am not buying a third of a ounce of gold but any other ideas would be appreciated.

note: I will be away and will not respond for another 6-24 hours, I’m not dissing anyone

Best answer:

Answer by Matt
Why on earth would you want to do this?

First off, currency trading small amounts is going to eat you alive because you are paying broker fees both ways, even if it is not a flat fee. The spread between what you see on line and what the bank is paying is that fee.

Then you have inflation. consumer inflation is pretty similar between the US and Israel now, but historically, Israeli inflation has been off the charts. If it spikes again, then you are going to be losing serious money (though with only 610 at play, there is only so much you can lose). Do you really think that the Israeli government is a better long term bet that the US government?

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Best answer:

Answer by Chitra4urhelp
you can earn by investing in forex by hedge fund
what is hedging …hedging is making profit from buying a foreign currency at low price and selling it when the exchange price is high.
For example: In march 2008 Mr. X buys 200 USD at rale of Indian Rupees 40 per USD
and In May 2008. Mr X sells 200 USD at Indian Rupees 43 per USD

so buying cost = Indian Rupees 8000
Selling Cost = Indian Rupees 8600
Net Profit = 8600 – 8000 = Indian Rupees 600

So Mr X made profit of Rs. 600 in 3 months on 8000 Investment in Forex.

Chitra
www.akashganga.org/india/ebusiness

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“Dollar Drops on Concern Feds Stimulus May Undermine Currency ”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aKO4jPEV_iYY&refer=home

” March 18 (Bloomberg) — The dollar declined to the weakest level in more than a month versus the euro as the Federal Reserve considered more measures to boost the economy, spurring speculation excessive money supply may debase the currency.

The greenbacks drop accelerated after breaking through $ 1.3070, near the top end of the euros trading range this month. The pound dropped to a seven-week low against the euro as a report showed unemployment in the U.K. rose in February at the fastest pace since at least 1971.

The market is focused on how the Fed increases its balance sheet, buying more troubled assets, said Jack Spitz, managing director of foreign exchange at National Bank of Canada in Toronto. Theres a possibility the Fed is creating more risk tolerance at the expense of the dollar.

(end quote … click the link to read the full article)

AND THIS ONE:

“Dollar Sinks as Fed Says It Will Buy Longer-Term Treasuries”

March 18 (Bloomberg) — The dollar fell against the euro as the Federal Reserve said it will purchase $ 300 billion of longer-term Treasuries, spurring speculation the central bank is debasing the currency.

…

The dollar will trade with a weak bias, said Lane Newman, director of currency trading at ING Financial Markets LLC in New York, before the Feds announcement.

The dollar depreciated 2.2 percent to $ 1.3303 per euro at 2:21 p.m. in New York, from $ 1.3017 yesterday. The dollar lost 1.7 percent to 96.95 yen from 98.60. The yen dropped 0.4 percent to 128.87 per euro from 128.35. ”

….

Dollar Index

The Dollar Index, which the ICE uses to track the greenbacks performance against the currencies of six major U.S. trading partners, dropped 1.2 percent last week to 87.428, the biggest decline since mid-December. Speculation the worst of the global banking crisis may be over reduced the haven appeal of the greenback.

(end of quote, click the link to read the full article)

INTERESTING … that second article was on Bloomberg’s top page when I started writing this question. By the time I finished the question, it has “disappeared”. Hmmm.

It was surprising to see it there in the first place. Did the censorship department over look it?
.
Surprise, surprise! (sarcasm).

Gold now rallying as the dollar takes a hit because of this. See this article hot off the press from Market Watch

“Gold rallies as dollar tumbles after Fed’s decision ”

http://www.marketwatch.com/news/story/gold-rallies-dollar-tumbles-after/story.aspx?guid={2D07948D-5835-4E62-A9F2-249D7504917B}

.
Some Quotes from the Market Watch article

“NEW YORK (MarketWatch) — Gold futures rallied more than 4% in electronic trading Wednesday, as the dollar tumbled after the Federal Reserve surprised investors and said it will buy long-term Treasurys, which raised gold’s appeal as an investment alternative.

By buying Treasurys, the Fed is essentially creating more money to buy national debt, which weighs on the dollar.

Gold rallied after the Fed decision “as dollar slid,”

At the end of a two-day meeting in mid-afternoon, the Fed said it was committed to buying $ 300 billion in longer-term Treasurys to help the struggling American economy recover. The central bank also tweaked its other credit-easing programs by committing to buy more mortgage-backed securities and agency debt and include more asset-backed securities under a new credit facility starting this week.

The dollar plunged after the decision, with the dollar index

Best answer:

Answer by Miss Nikki
Does any of this really surprise you? Even before this terrible recession (which has been building towards for years) there has been discrepancies regarding the Dollar Index. I worked closed with the Federal reserve for years and it’s always smelled a bit fishy to me.

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Best answer:

Answer by uncle speedy
you can change it over there we did it all the time I was in the military.It’s easy. I believe the money is peisitas check spelling.

What do you think? Answer below!

Best answer:

Answer by Wrenched
Canadian trading partners are rarely free from government interference.

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Best answer:

Answer by GdK
Forex stands for ‘Foreign Exchange’ i.e. dealing in world currencies. The most active ones are USD/Euro, USD/Yen and USD/Pound Sterling. But you can also trade rupee’s (I believe).

Just Google ‘Forex trading India’ and find some links.

Hope this Helps

Give your answer to this question below!

Iran has started an oil-trading bourse on Kish Island. Nothing unusual in this you say – well, except that they have been trading oil for Euros and not Dollars for the last year. Could this be the reason why the Dollar has been doing so badly and the Euro doing so well recently ?

Best answer:

Answer by FRAGINAL-NOYPI
OPEC is not using the dollar so that the price of oil will increase since the dollar is a strong currency.

Know better? Leave your own answer in the comments!

Iran has started an oil-trading bourse on Kish Island. Nothing unusual in this you say – well, except that they have been trading oil for Euros and not Dollars for the last year. Could this be the reason why the Dollar has been doing so badly and the Euro doing so well recently ?

Best answer:

Answer by hasicit
any change in currency used will strengthen that currency and unfortunetly weaken the dollar.

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Best answer:

Answer by noob
I’m going to assume by “swap” you mean interest on an open spot position, not trading actual FX swaps. This is commonly known as a carry trade, if I’m not mistaken. Let’s put it like this, in order to completely eliminate pip moves against you, you’d have to be completely market neutral. You could do this by opening a buy and sell position in the same currency pair, but then of course you’d pay as much as you accrue so wouldn’t make anything. Or depending how your dealer pays swaps, you could try to create a market-neutral position via i.e. EUR/USD, USD/CHF, and EUR/CHF, and see if the swaps still cancel out.

Best bet is find out the highest and lowest interest rate currencies and buy the high against the low, you’ll still be open to moves against you but due to the higher interest rates attracting incoming money, it should *in general* not go down much against you other currency – unless of course your weak currency gets a rate hike.

This is all on an “as far as I know” basis, as I don’t do the carry trade.

Give your answer to this question below!

Best answer:

Answer by Hairwa Straightenerw
yes it does

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