Quote:
Originally Posted by Stardrifter_WA
You are correct, however, their currency converter shows the exchange for 10,000 to be 10,440.05. http://www.ozforex.com.au/our-services/travel-card
Again, it is deceptive, since you actually cannot get that rate, so why have a currency converter on their travel card website. on reading the website, there is only one small sentence that says card rates are different from OzForex money transfers. So, does that mean that if I open an account in the US that I can transfer money at that rate? Probably not. 
Still, it ain't all bad, considering how low our dollar went in the past. Still the best time to travel. |
Hi Peter,
if you hover over the link on the converter, it says that it is only the mid-market
rate.
As Malcolm pointed out, you need to use the converter on this page where
it says "click here" -
http://www.ozforex.com.au/our-servic...s-fees-charges
And you are absolutely right in that if you can't get that rate, then why show it.
Possibly a better question to ask is why there are no global reforms to allow
wider access to the FOREX market as part of an international trade and investment
initiative. My understanding is that there is currently no central exchange and the
players deal directly with one another.
Though even Japanese housewives invest in the carry trade, they do so through
brokers. To the best of my knowledge, mere mortals can't get online somewhere
and day trade in FOREX.