How do money changers make money?
Let’s learn how do money changers make money. The most accurate or helpful solution is served by Yahoo! Answers.
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I know a little bit about how they earn money from the fluctuations in the exchange rate, and the different rates at which they charge people. However, all the money changers have rates that are so competitive and so close to each other, and how can we know how much of the foreign currencies they are holding? (to make the money that they should)
Answer:
The revenue comes from the differential between the buying price and selling price. while the differential...
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Other solutions
Answer:
The money changer makes money by not giving you as much as it's really worth. They keep a percentage...
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Answer:
Are you talking about "gold star," the machine you dump all of your change into and it kicks...
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Answer:
If you are referring to a currency exchange, then they make money by selling you one type of currency...
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Answer:
The exchange rate is a little bit lower or a few cents higher than the market price. The latter usually...
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Answer:
They charge a small percentage when they change money. Example: dollar is 3.10 for buy and 3.07 for...
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