Is it profitable to convert USD to Euro and keep them?

[gamefreakgcb]

Hey ATOT!, I am a NY'er studying in Johannesburg, now I was thinking last night what with all the USD depreciating and Euro appreciating, bear with me as I am just typing out my thoughts here, I change dollars there, and even though the rand has dropped in value, the dollar dropping has kept any real change from coming into my hands, what I was thinking was if I could change enough USD's to last me till the end of my studies into euros, then keep changing the euros into rands. Good idea or bad?

USD -> Rands
USD -> Euro
Euro -> Rand

 

[bonkers325]

convert to Brazilian currency instead

 

[drinkmorejava]

This happens with hundreds of billions of dollars every day. However, investors also include government bond rates in their calculations.

 

[josh0099]

You will probably eat up any profits in conversion fees....for this short of time...

 

[Casawi]

You are gambling kind of. You are assuming the Euro will gain value over Rand more than the USD. What I would do if I were is find someone to buy USD from you under the table... but I am not sure how much people are trying to buy USD these days.

 

[manlymatt83]

Originally posted by: Casawi
You are gambling kind of. You are assuming the Euro will gain value over Rand more than the USD. What I would do if I were is find someone to buy USD from you under the table... but I am not sure how much people are trying to buy USD these days.

Why isn't there a website online for currency exchange? A craigslist of sorts for currency exchange?

 

[LegendKiller]

LOL, you're more than a little bit behind the curve. For the first time since 2005 the market believes the dollar is going to raise against the Euro and other currencies.

 

[Casawi]

Looking at the dollar this past month, it might be making a come back. Hope a strong comeback to poke those bastards in the eye...lol

 

[gamefreakgcb]

Originally posted by: Casawi
You are gambling kind of. You are assuming the Euro will gain value over Rand more than the USD. What I would do if I were is find someone to buy USD from you under the table... but I am not sure how much people are trying to buy USD these days.

Thats what we do there, get someone who buys it for a higher value compared to the one shown online, and no fees, ofcourse this is only for the x -> rand transactions.

 

[imported_Lothar]

Brazilian Reais and Korean Won >>> Euro.