Feb
3
Oh to be a FX Money Changer in Bali, from Craig Mee
February 3, 2011 |
I was in the local "phone shop" today…and while the old mate was sorting out a few technical issues for me, a local Balinese lady peeled in the door, with USD in hand. Oh, I thought, "I didn't know this guy was a money changer too."
As she put 5 sheets of USD1 on the counter, I lent forward to look at the rate he was putting in the calculator…8400 IDR..lovely! 600 for his back pocket with spot trading at 9000 and no risk. Even though I was not involved in that transaction, I walked out feeling like I'd been cheated and in desperate need of a bit or a lot of that action (on size).
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