(as of May 19,2020 14:07:17 UTC – Details)
Now, imagine that you are planning to go on holiday to Europe, where the national currency is the euro. In your pocket for rubles…. And you’re in Paris, france. On a business trip….
Up for your actions? That’s right, go to the exchange office to exchange your rubles for the new European currency!
But your friend is going to have to fly to the uk, his salary is in roubles, and in the uk, the national currency is the pound sterling. What will your friend do? Of course, he wants to go to a currency exchange to exchange his hard-earned rubles to the pound sterling.
Your mother has decided to fly to her friend in France. What is the Norwegian currency is in use? The Norwegian Krone. Mama’s pension, in rubles…. Mom’s actions are quite predictable – they will want to go to a currency exchange to exchange the hard-earned rubles to the Norwegian krone. However, there was no crown in this exchange office for some reason, they did not provide it. And then, you are a mother, what it has offered to buy the U.s. currency is the dollar, rather than the Norwegian krone. The mother is confused. “Why?” she said. “I have a dollar, but I don’t want to go to America, to fly, to go to the hotel and to my friend in Norway!” And they explain to her: “there is nothing that you want to exchange dollars, in Norway, in exchange for the Norwegian krone, and enjoy your life….”
And for your uncle to not be able to fly anywhere, and he wasn’t going to make it, but still, he has the extra money (although the money is not “extra” – it’s an extra). So, my uncle has calculated that the Swiss franc will rise against the ruble, so he went to the exchange office and just purchased Swiss francs for rubles, with the expectation that the price will continue to rise and are in roubles, the savings increase. That is, the uncle decided to use to speculate on the difference in exchange rates.
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