How does the money exchanger get the hard cash? And make profit?

Posted: 25-12-2008 | Author: admin | Category: Personal Finance


I know they make profit from the “spread’.
Their spread is much little from the bank. While the banks’ spread is bigger.

If they ran out of foreign currencies e.g. Eurodollar,
dont they need to get it from the bank?

How do they make profit?

Category: Personal Finance by admin

One Response to “How does the money exchanger get the hard cash? And make profit?”

  1. FørtyTwø, on December 26th, 2008 at 10:15 pm Said:

    Money Changers have been making a profit since the practice was started by the Ottomans that would secure transfers of currency for traders from China and Europe. The Silk Road was one of the outcomes of this.
    It is almost voodoo math, but take even 1% from every coin that comes into or leaves a business and that adds up to alot of coins. You have heard it takes money to make money, that is what is being spoken of.
    It is like a magic trick, I do not try to figure out, just enjoy the show and smile.

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