> From: "Robert B.Z." <[EMAIL PROTECTED]>
> > It appears that there is a gap of up to 4% between USD > EUR exchange > rates and exchanging USD>PHP>EUR. > Depending on the time of the day and as a strictly cash-only business, it > appears as if the USD is valued 2-4% higher in terms EUR against the > Philippine Peso. That means, if one exchanges $10,000 in PHP and the PHP > into the € equivalent the savings over a direct $>€ exchange are up to > $400.00 That's a great arbitrage opportunity. All you have to do is take your dollars, exchange them for pesos, exchange those for Euros, and exchange back to dollars. You should have 4% more dollars. Repeat this again with as much money as possible. Big gaps like that are unusual in the currency markets, I think, as any guaranteed profits are leapt at by the arbitrageurs until the profit opportunity goes away and the balance is restored. Enough people should jump in on this opportunity until all the selling of dollars for pesos in the first step reduces the dollar/peso exchange rate. By getting less pesos you in turn get less euros, and the dollar/peso rate should decline up to the point where changing those euros back to dollars equals the value of doing the trade direct. - John --- http://cambist.net --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
