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digger1
Veteran
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23 Sep 2007, 9:46 pm

What would it be called if someone converted like a million dollars (US) into some other country's money - something that is worth the same as a US dollar and waited until the value of that other currency went up slightly and then reconverted it back to USD making a little bit off the exchange?

I mean, if you converted $1,000,000 into let's say the Yen and waited for it to go up two cents and then converted it back to USD, you'd make like $20,000.



klick
Blue Jay
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23 Sep 2007, 10:00 pm

I believe that is called currency speculation. It works in much the same way as buying and selling stock.



littlesmiley
Pileated woodpecker
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24 Sep 2007, 7:50 am

works for me