> > 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. > The problem there is only that I have to start with dollars, end with euros and can't exchange euros for dollars in the Philippines ;o) We did one set, have a pile of euros and need them exchanged into dollars, which we will do in Europe. But that is where it pretty much ends.
We would need to use a big enough amount to warrant two carry-on couriers flying back and forth, and I'd love to see the guys at customs in Europe when someone arrives every second day with a suitcase of Euros and leaves every other day with a suitcase of Dollars. I had a chat with UPS and DHL, but they don't wanna know about it either. Not to forget that walking around in Manila from bank to bank with a million or two in cash is a certified garantee to ask for trouble. Using transfers instead of cash (USA > PHI > EU > USA) wouldn't work because what we win in the Philippines we use on the spreads in the US and EU. I fear it's one of those arbitrage oportunities that only exist because it is unfeasible to take advantage of them on a large scale. Still, I'd love to find out why the Philippine banks give the USD preferrence over the EUR at the moment. Cheers, Robert. budget & privacy website hosting http://www.cyberica.net e-commerce & e-business services http://www.cyfrocash.net budget domain registrations http://www.u2planet.com --- 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.
