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Old 20 January 2009, 04:51 PM
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zip106
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Default Currency exchange question

As the £ is in freefall at the moment is it possible to buy $AUD at $2.12 (with £GBP) and then convert them into $US at $1.49?
Or would this work with any currency to get more for your £ ?

Or would the amount just be the same as if they were bought in GBP?

I'm trying to work out the math but I've got brain block.


Any ideas?
Old 20 January 2009, 04:57 PM
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Kev_turbo
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Yes it is possible but check the buy back rates as well as the sell rates and any commission you would pay.

Can you find someone who will convert AUS to US?
Old 20 January 2009, 04:59 PM
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ChefDude
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100 quid to USD arbitraging AUD would gain you 5 cents

(Bloomberg 2 mins ago)
gbp-usd 1.4028
gbp-aud 2.1332
aud-usd 0.6574
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