Hi,
A silly clarification !
I owe some amount to my German friend. I will be meeting him this weekend.
I have cash in CHF.
Kindly suggest me as which is the best option for me to pay my friend.
Option1:
Give money in CHF and ask him to exchange it to EURO when the rates go high
Option2:
Give money in EURO directly to him
I want to be sure that i do not end up losing money ! LOL
Kindly suggest !
Many Thanks,
Dinesh
Hi,
A silly clarification !
I owe some amount to my German friend. I will be meeting him this weekend.
I have cash in CHF.
Kindly suggest me as which is the best option for me to pay my friend.
Option1:
Give money in CHF and ask him to exchange it to EURO when the rates go high
Option2:
Give money in EURO directly to him
I want to be sure that i do not end up losing money ! LOL
Kindly suggest !
Many Thanks,
Dinesh
Hi Dinesh,
Going from the premise that your friend wants his Euros now and is not willing to speculate, and given the recent trends, I would think that it would be better to exchange your CHF now and give him his money back in Euros.
Farah
Hi Dinesh,
Going from the premise that your friend wants his Euros now and is not willing to speculate, and given the recent trends, I would think that it would be better to exchange your CHF now and give him his money back in Euros.
Farah
Thank you Farah ! This is helpful.
I know this is late, but for future unless you are speculating then you should always go with option 2. Currency markets are fickle so can go in both directions. It may be possible to know when you're at a high point and low point. For example, the british pound vrs usd trends between 1.3 to 2. So at 2USD per pound you'd want to sell pounds and vice versa. Only issue is it could take months/years to get to an ideal rate. No great for when your friend wants the money now.
Also, exchanging now will get a really good rate for you since the CHF is strong (ie the rate is high). Could it get stronger, sure, but that would be gambling on the outcome.
I know this is late, but for future unless you are speculating then you should always go with option 2. Currency markets are fickle so can go in both directions. It may be possible to know when you're at a high point and low point. For example, the british pound vrs usd trends between 1.3 to 2. So at 2USD per pound you'd want to sell pounds and vice versa. Only issue is it could take months/years to get to an ideal rate. No great for when your friend wants the money now.
Also, exchanging now will get a really good rate for you since the CHF is strong (ie the rate is high). Could it get stronger, sure, but that would be gambling on the outcome.
"I owe some amount to my German friend. "
Sorry, but "silly" is not the way I would characterize your attitude.
1. He is your friend, right?
2. He kindly lent you some money, right?
3. The swiss franc is at a historic high in relation to the euro
and you are worried about not "losing" money?
"I owe some amount to my German friend. "
Sorry, but "silly" is not the way I would characterize your attitude.
1. He is your friend, right?
2. He kindly lent you some money, right?
3. The swiss franc is at a historic high in relation to the euro
and you are worried about not "losing" money?
