I’m a newbie here, I don’t know if it’s the right place for me but it looks like it.
I am thinking of doing some forex business in Africa but I need to learn more first.
It’s about two neighbouring countries, on with acute shortage and highly on demand on US dollars and another one which uses US dollars as their primary currency.
The country with no US$ have a big difference in exchange rates in the bank and at bureau de change.
I want to learn how I can invest within the laws of those two countries in forex.
To give you an idea:
Bank rate: buying $ at 255 and selling at 240
Bureau rate: buying $ at 175 and selling at 165.
Please let me know if it’s the wrong forum but mainly what do you think I can do.
Well HelllOOO JESSICA!!! LOL!!! PLEASE tell me that’s YOU (in your avatar I mean)???
leandar: NOW what??? It’s getting REAL hard to ‘keep up with you’ let me tell ya!!! And FRANKLY: I’m getting a bit tired of ‘covering your ar*e’!!! What about Ms. Merkel and the EU now??? And your EA??? After ALL that work AND abuse you’re ‘throwing in the towel’??? C’mon. I’ve got more faith in you than THAT!!!
bukavu: I’m in AFRICA and I’ll tell you right now that I don’t see how that’s possible. NOT that I’m saying you’re talking ‘cr*p’ at all. But you’re talking about HUGE differences there. It doesn’t ‘add up’. Unless you’d be so kind as to explain further that is.
You’re looking at it from a broker’s point of view, and there are enough out there already, it’s a perfectly good subject to discuss in this forum, however you won’t find many if at all that can help, it’s like opening another betting chain of shops rather what the majority of the discussion is in here, which is more like running the horses.
So as a consequence you probably wont learn much around here about how to open the next currency dealer/shop/franchise, but consider the actual trading side for which you can learn to have a very profitable career, and the best initial advice I can give you for your first rung is the same as I give many times over, look at the most popular and enduring threads - they are such for a very good reason.
Nah. Tried that. leandar (God bless his soul) is on his own ‘mission’ I’m afraid. But, then, as I’ve noted, nothing is IMPOSSIBLE. IMPROBABLE??? DEFINITELY. IMPOSSIBLE??? NO!!! LOL!!!
And let’s face it: the entertainment value of leandar’s thread FAR outweighs the (IMPROBABLE) monetary gains!!! LOL!!!
Thank you for this, it’s what I wanted to hear, the difference is huge and I want to explore it before the government of the country in need of US Dollars go back to its feet.
Too good to be true, I thought so, but I need someone who can help calculate how to benefit from the difference in exchange rates.
