Forex

[travcaine]

Hi All,

I am not so savy with this, please help?

A friend of mine wants to sell USD 350 at below exchange rate (is this legal) if I buy these USD can I exchange it for AUD or Rands? Where can I do this?

 

[Snyper564]

Hi All,

I am not so savy with this, please help?

A friend of mine wants to sell USD 350 at below exchange rate (is this legal) if I buy these USD can I exchange it for AUD or Rands? Where can I do this?

Cant really do it without travel documents. You essentially buying on the "black market". you can obviously buy and use on your trip but wont be able to "sell" to a bank for example if you didn't have the flight etc.

 

[travcaine]

Cant really do it without travel documents. You essentially buying on the "black market". you can obviously buy and use on your trip but wont be able to "sell" to a bank for example if you didn't have the flight etc.

Thanks, the friend still has his ticket and all. But I guess the travel ticket will need to be in my name since I will be selling the currency?

 

[Snyper564]

Thanks, the friend still has his ticket and all. But I guess the travel ticket will need to be in my name since I will be selling the currency?

Correct, as I said if you travel this is perfect for you. I would never ever buy the currency and try resell. 350usd isn't worth the effort anyway. If you flying its a good deal .

 

[travcaine]

Correct, as I said if you travel this is perfect for you. I would never ever buy the currency and try resell. 350usd isn't worth the effort anyway. If you flying its a good deal .

Thanks, we are leaving Monday for Aus so was hoping to exchange for that.

 

[Snyper564]

Thanks, we are leaving Monday for Aus so was hoping to exchange for that.

Might be able to do it that side, maybe someone else can jump in here