Is it wise to keep spare foreign currency to resell later to people traveling to that country?
Payments
Asked by Question Bot02/Sep/20121 answer
1 Answer
F
Faisal Khan
Answered 02/Sep/2012
Sure, it is never a bad idea. The only problem is how do you find people who are travelling to the country, whose currency you hold. That is one issue.
The secondary issue is how to get this money across to them physically. You might be holding GBP 56, whilst the party that wants to buy it from you, wants to buy GBP 1,000.
It becomes a logistical nightmare for the person buying to procure GBP 1,000 from various sellers.
In the end, it will be just a whole lot easier to just buy it from a single source.
The secondary issue is how to get this money across to them physically. You might be holding GBP 56, whilst the party that wants to buy it from you, wants to buy GBP 1,000.
It becomes a logistical nightmare for the person buying to procure GBP 1,000 from various sellers.
In the end, it will be just a whole lot easier to just buy it from a single source.