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Pounds vs Dollar - Exchange rate issues
so the dollar is weakening everyday these days.
the rate between pounds vs Dollar is now at:
1 pound = $1.90
a month ago it was at 1.75, two month ago it was at 1.73
now i'm not genius at this and probably have the least knowledge about finance (although i take a finance module in uni.. which is embarrassing)
but could a profit be made out of this using just the partypoker software?
if i deposit to partypoker in pounds, the site gives a prettty good exchange rate with mininal fees.
so i deposit, keep the money in USD in my account, and when the dollar strengthens again, i withdraw to my GBP based card.
is this a stupid idea? what are the problems if there are any?
i'm sure there are some of you that knkow abit about financing and investing so i hope to hear some views!
If you ever take international finance (usually a senior level course), you will study arbitrage. You will also conduct an experiment on one of several currency trading sites. It will teach you a lot. At the end of the day though, you will learn the law of arbitrage...that there is none
I love learning how people conduct these though, and i have to say, you have a great idea!
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