Change NTD into USD and back

Business Money
1

Ok I have find that for the last 10 days at least…the daily chart between USD and NTD is a long U shape…It always starts out appreciating .1 NTD or so in the first hour…then at the last hour or so it will depreciate .1 sometimes .2 NTD! I am thinking opening a USD account and just exchange money between those 2 account to make some easy money. I mean it have been like this every day for the last 10 to 14 days! anyone noticed this?

However is there any fee when you change money from USD to NTD account? and can you do this from online banking? if you can then it’s easy money I am sure!

anyways it’s a good time to store up some USD now isn’t it? it’s at 31.6x which is pretty low? I think usually it’s around mid 32?

2

:eh: Banks will either charge fees or will make their money off the difference between their exchange rate and the market rate, so if you change money back and forth I think you’ll lose a little each time.

3

Yes, the difference is sometimes more than one nt, depending on the bank or exchange office.

If you want to trade currencies, look into a firm that specializes in forex online. Don’t try to do it through a bank.

4

Banks will screw you over. Open a specialized forex account online. Some have decent services. You may have a minimum amount to trade every time. Just how much money are you trying to exchange back and forth?

5

I see, forex account…

not sure how much…I have to talk with the forex people I guess, thanks

6

not totally on OT, but what’s the best way to change NTD into hard USD - I need about $500. Do I go banks, or airport?

7

If you are flying out, the airport is fast and easy. If not, any bank with foreign exchange services will accomodate you.

8

I believe airport’s rate is not as good and there is a fee

9

Exchange rates at airports SUCK!

If you have time, go to a bank. Most branches of major banks have currency exchange and you’ll get a much better rate.

10

I think Taiwan’s airports rates may be equivalent to banks though. Especially Bank of Taiwan. Taiwan is very fair with this kind of thing, lao bai xing will complain and all that.

11

This is my experience, as well. Compared to other airport banks around the world, it’s a pleasant surprise and makes travel very convenient.