Quote:
Originally posted by pradaboy
hmmm I just checked the local exchange services and it seems you're right, why is there such a large difference between official exchange rates (which I follow on text tv everyday) and the actual rate?
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Probably two reasons - one is that the bank obviously wants to make a profit and the other is that it acts as a hedge.
They buy it from you but they may not be able to sell it for the same amount .
It sucks for us too - but at least the exchange rate is still good against the Aussie dollar.
Oh for someone to make a banana republic statement about Australia again.
The last time that happened the exchange rate fell to the point where we were getting 2 AU dollars for every 1 US dollars.