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November 28, 2019 at 7:46 am
In simple, We have to pay always higher and receive always lower amount, if we translate into Exchange rates.
Am I correct John?
John Moffat says
November 28, 2019 at 8:48 am
December 4, 2018 at 6:00 pm
I thought we buy currency at a higher rate and sell currency at a lower rate ? If we buy at a higher rate then it’s meant to be divided by 1.4970?
August 14, 2019 at 5:58 pm
I learnt that banks buy low and sell high . Thats how they make a profit
August 15, 2019 at 7:21 am
That is how they make a profit as I explain in the lectures. However which of the two rates we use depends on which way round we are converting (i.e. which of the two currencies is being converted into the other currency).
I explain how to decide which rate to use in my lectures (and it is always whichever rate is worse for the company because, again, it is the bank that makes the profit).
October 13, 2018 at 11:08 am
Thanks it was very helpful lecture..
October 13, 2018 at 12:02 pm
Thank you for your comment 🙂
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