Taking Advantage of Currency Differences

Few years back when I was on the journey towards IRAQ I came to know about the Iraqi currency Dinar which is 10 times lower to the Pakistani value. Which means that 1000 PKR was equal to 10,000 Dinar. I thought to take some cash from Pakistan and get change there.

After getting some information about the currency profits I came to know that if you amount of dollar you will get good in return. Which means Pakistan to Dinar was 1-10 times while Dollar to Dinar was 1-12 times.

This is the huge gap of profit and I decided to take some dollar and get change there to take out the expense of my travel. That journey was because to be the pilgrim in the Iraq Shrines where great personalities are buried.

I thought to have my travel and also to get some profits by changing money there. When I reached Iraq I take some free time and visited Iraqi currency market and started bargaining about better profit to change the dollars.

From one of the shop I came to know that he was selling Pakistani smaller value currency against dollar at much reasonable price. That is the Rs 50 and Rs 100 were available and he was asking me to convert with dollars.

When I calculated the profit percentage it was about 1- 20 times which means $1 against 200 Dirham which was just reasonable and best price exchange. I had around $500 and did converted to better profit which take the expense of my journey.

CANVA

But one thing was worrying and that was the smaller value currency of Rs 50 and Rs 100. It was difficult for me to take with me to my country. It was about a full size plastic shopper that was filled with currency.

The thing which makes me worry was the border crossing because they can raise objection about illegal currency transfer. But idea get in my mind. We were 4 friends in the journey and I asked them to keep some of the cash with them.

I distributed the amount in 4 equal parts and gave them to put in their bags. The idea worked for me and we easily crossed the border. The next day when I reached back to home I headed towards bank to convert to higher value currency.

One of my friend has a job in bank as cashier. I ask him to give me higher value notes. Which he listened me and I convert all the cash to higher value. This is the story of my currency profit from other country.

Thank You!