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Money-Changing; An Introduction to Foreign Exchange

Money-Changing; An Introduction to Foreign Exchange


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1913 Excerpt: ... CHAPTER II RATES OF EXCHANGE Having taken a preliminary survey of the various kinds of money, the relative values of which and the system by which they are turned into one another are the subject-matter of Foreign Exchange, we can proceed to consider the daily table of exchange rates that is quoted in the daily press. An example, taken from the Times, appears with a translation on the opposite page. The first thing that strikes one about the table as one looks down it, is the fact that most of the quotations are in foreign money and express the amount of the foreign money that is, at the current rate, paid for one sovereign. This form of quotation is natural enough, seeing that the rates quoted are those current in the various foreign centres--the Paris quotation being telegraphed from Paris and so on--but it adds very much to the early difficulties of the struggling Paris, cheques... Brussels, cheques Berlin, sight, 8 days Vienna, sight.... Amsterdam, sight. Italy, sight Switzerland, sight. Madrid, sight... Lisbon, sight St. Petersburg, 3 months sight.. Christiania Copenhagen Stockholm Bombay, T.T Calcutta, T.T Hong-kong, T.T. Shanghai, T.T Singapore, T.T... Yokohama, T.T Alexandria Rio de Jan., 90 days Valparaiso, 90 days Bank' Buenos Aires, 90 days Montevideo, 90 days... These rates are telegraphed on the day preceding their receipt. student, because it is contrary to the method in which the prices have been expressed of everything that he has hitherto been used to think of as having a price. Having always thought of an umbrella as worth half a sovereign upwards, according to quality, and pricing a hat according to the number of shillings that are wanted to purchase it, it gives his mental digestion a very uncomfortable twist when he is sud...


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Product Details
  • ISBN-13: 9780217435055
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 36
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 021743505X
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 82 gr


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