Which Currency Buys The Most L$?
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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08-10-2006 11:17
From: eltee Statosky is that us dollars by far buy the most linden since any other currency will always have to be exchanged for a loss in order to buy l$...
aka the bank doing the foreign currency exchange will skim some cost inbetween your native currency's value and the L$ value in the US$ transaction.
I.e. if the value of currency x was 1X = $2... a bank will most likely exchange you one way at $1.95, and the other at $2.05, therefore your purchases of L$ will always be less profitable than if you were using us dollars directly Right. You can't get around the PIP or Commission costs to trade currency. Unless you exchange your Euros for Dollars at a Country's Central Bank. But good luck with that one..  You just have to factor the pip/commission charge into the equation. Now I also trade foreign currencies on Oanda.com. Today was a good day with shorting the Pound against the dollar. Well it was better, but I got slow closing out my short. August 8 00:20:57 2006 EDT Sell Market GBP/USD 1.9040 August 10 13:46:40 2006 EDT Close Trade GBP/USD 1.8915 |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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08-10-2006 11:23
From: Thraxis Epsilon That is wrong.
One Yen will buy you L$2.65/Linden Dollars.
The current Exchange rate is 115.467 Yen to the dollar. Thraxis: Oppps. Sorry... The Yen always throws me for a loop. 1Yen = $.0086/cents 1Linden = $.0033/cents |
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Thraxis Epsilon
Registered User
Join date: 31 Aug 2005
Posts: 211
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08-10-2006 11:36
1 USD Lindens
US Dollar 1 $306.00
British Pound 0.529437 $577.97
Euro 0.783392 $390.61
Canadian Dollar 1.1262 $271.71
Swiss Franc 1.2373 $247.31
Australian Dollar 1.30361 $234.73
Singapore Dollar 1.572 $194.66
New Zealand Dollar 1.57853 $193.85
Brazilian Real 2.1655 $141.31
Malaysian Ringgit 3.66 $83.61
Danish Krone 5.8447 $52.36
Norwegian Kroner 6.2298 $49.12
South African Rand 6.796 $45.03
Swedish Krona 7.2051 $42.47
Hong Kong Dollar 7.7768 $39.35
Chinese Yuan 7.969 $38.40
Mexican Peso 10.895 $28.09
Taiwan Dollar 32.54 $9.40
Thai Baht 37.5 $8.16
Indian Rupee 46.32 $6.61
Sri Lanka Rupee 103.88 $2.95
Japanese Yen 115.59 $2.65
South Korean Won 957.6 $0.32
Venezuelan Bolivar 2144.6 $0.14
Pretty easy to do an excel spreadsheet to do the calculations for you |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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08-10-2006 12:00
As soon as we can figure out a unit to judge PPP against, you'll need a 3rd field.
How you made some money off Shorting the GDP today...
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Lee Dimsum
Registered User
Join date: 22 Feb 2006
Posts: 118
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08-10-2006 12:49
From: ReserveBank Division Right. You can't get around the PIP or Commission costs to trade currency. Unless you exchange your Euros for Dollars at a Country's Central Bank. But good luck with that one.. You just have to factor the pip/commission charge into the equation. Now I also trade foreign currencies on Oanda.com. Today was a good day with shorting the Pound against the dollar. Well it was better, but I got slow closing out my short. August 8 00:20:57 2006 EDT Sell Market GBP/USD 1.9040 August 10 13:46:40 2006 EDT Close Trade GBP/USD 1.8915 Let me explain how LindeX differs from Oanda/NASDAQ/any market maker driven exchange (actually the underlying doesn't matter): If I enter a limited order into LindeX it will be displayed on the order book. I am a market user but a market maker as well. Oanda's order book lists only market maker orders. The bid/ask for USD is 115/115.50 E.g. market maker 1 offers 115/116 for USD/JPY market maker 2 offers 114/115.50 for USD/JPY As a market user, I can only trade at market maker rates, i.e. buy JPY at 115 and sell JPY at 115.50 If I, as a market user, post a limited order (e.g. buy 100'000 JPY at 117 ), it won't be listed on the order book. I have to wait until some market maker move his bid up to 117. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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08-10-2006 12:55
From: Lee Dimsum Let me explain how LindeX differs from Oanda/NASDAQ/any market maker driven exchange (actually the underlying doesn't matter):
If I enter a limited order into LindeX it will be displayed on the order book. I am a market user but a market maker as well.
Oanda's order book lists only market maker orders.
The bid/ask for USD is 115/115.50
E.g. market maker 1 offers 115/116 for USD/JPY
market maker 2 offers 114/115.50 for USD/JPY
As a market user, I can only trade at market maker rates, i.e. buy JPY at 115 and sell JPY at 115.50
If I, as a market user, post a limited order (e.g. buy 100'000 JPY at 117 ), it won't be listed on the order book. I have to wait until some market maker move his bid up to 117. Right. Oanda is a market maker and we trade at their prices. LindenX doesn't have a market maker. It could, but the coding doesn't gear itself to such. More hassle than its worth. It would be nice if LindenX allowed for MMs to provide liquidity on the exchange. Too bad GOM still doesn't exist... |
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Lee Dimsum
Registered User
Join date: 22 Feb 2006
Posts: 118
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08-10-2006 15:30
From: ReserveBank Division Right. Oanda is a market maker and we trade at their prices. LindenX doesn't have a market maker. It could, but the coding doesn't gear itself to such. More hassle than its worth.
It would be nice if LindenX allowed for MMs to provide liquidity on the exchange. Too bad GOM still doesn't exist... LindeX do have market makers. Everyone is a market maker and market user at the same time. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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08-10-2006 20:47
From: Lee Dimsum LindeX do have market makers. Everyone is a market maker and market user at the same time. Ohh brother.... |
