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Old 05-14-06, 04:38 AM
nxtyear's Avatar
nxtyear nxtyear is offline
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Join Date: Aug 2005
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Default Pounds vs Dollar - Exchange rate issues

so the dollar is weakening everyday these days.
the rate between pounds vs Dollar is now at:
1 pound = $1.90

a month ago it was at 1.75, two month ago it was at 1.73

now i'm not genius at this and probably have the least knowledge about finance (although i take a finance module in uni.. which is embarrassing)

but could a profit be made out of this using just the partypoker software?

if i deposit to partypoker in pounds, the site gives a prettty good exchange rate with mininal fees.

so i deposit, keep the money in USD in my account, and when the dollar strengthens again, i withdraw to my GBP based card.

is this a stupid idea? what are the problems if there are any?
i'm sure there are some of you that knkow abit about financing and investing so i hope to hear some views!
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Old 05-14-06, 11:51 AM
956Vette 956Vette is offline
Join Date: Apr 2006
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If you ever take international finance (usually a senior level course), you will study arbitrage. You will also conduct an experiment on one of several currency trading sites. It will teach you a lot. At the end of the day though, you will learn the law of arbitrage...that there is none

I love learning how people conduct these though, and i have to say, you have a great idea!
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