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Anonymous
Currency Exchange
2016-06-03 06:58:58 Post No. 1282825
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Currency Exchange
Anonymous
2016-06-03 06:58:58
Post No. 1282825
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Hypothetically:
>have 2 accounts at XA and XB banks
>get 100k for 40y loan of X currency at bank XA
>have dual citizenship in a country with Y currency
>have 2 accounts there at YA and YB bank
>exchange rate is 1.00 X > 1.10 Y
>value of X keeps increasing but it's estimated to start falling within a month
>value of Y keeps decreasing but it's estimated to start rising within a month
>transfer the 100k X from XA to YA
>transfer 110k of Y from YA to YB
>repeat when X and Y currencies start gaining/losing value again
Is this legal and is it worth it? are there any fees on currency conversions or some sort of tax that can get in the way of this procedure? total /biz/ illiterate here by the way.
