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Question: Do money changers buy money from banks?
I want to know whether money changers get their supply of money from banks or not?
If they do, then does bank charge them the rate that it charges customers? then how do money changers get the profit???
Best answer:
Answer by Dentist H since 2001
money is printed by the federal government.
banks do not purchase money. They deal in the transfer of money.
money changers - change money from pesos to dollars for example- they charge the consumer a flat rate or a percentage for changing money to different currency.
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Question: Do money changers buy money from banks?
I want to know whether money changers get their supply of money from banks or not?
If they do, then does bank charge them the rate that it charges customers? then how do money changers get the profit???
Best answer:
Answer by Dentist H since 2001
money is printed by the federal government.
banks do not purchase money. They deal in the transfer of money.
money changers - change money from pesos to dollars for example- they charge the consumer a flat rate or a percentage for changing money to different currency.
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Now You Can Make Money Selling These Book Templates! Our Sales Are Skyrocketing. Word Format For Conversion To Kindle, Mobi, Epub, Nook, Ibooks, Pdf. The Multibillion Dollar Book Market Is Hot, Hot, Hot! Promote And Profit 50% Now!
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