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Most economical way of paying off student loan from overseas.

I searched through this subreddit and was surprised to see this hasn't been discussed at much length (or I am bad at searching).
I am living overseas in Canada and am being charged 3.5% interest on my student loan balance so I'd like to now start paying it off ASAP.
From what I can see there are a number of possible methods for paying off a student loan from overseas:
I put together a quick table summarizing my options, calculated at 07:00 EDT - 9/8/20. Some things to note:
Method Fee Send Amount (CAD) Recieve Amount (NZD) Notes
TransferWise $8.79 $891.60 $1,000.00
Western Union $0.00 $908.30 $1,000.00
Orbit Remit $0.00 --- --- CAD Not Available
XE $0.00 ? $1,000.00 Website Down
OFX $0.00 $887.67 $1,000.00
Credit Card $0.00 $896.33 $1,000.00
Credit Card $12.72 $909.05 $1,000.00 IRD Convenience fee included (1.42%)​
Direct Debit $0.00 $904.10 $1,000.00
I have a few questions:
Thanks!
submitted by middayjester to PersonalFinanceNZ [link] [comments]

What would happen if sovereign governments gave bitcoin a gold peg?

This is a totally theoretical post, but I believe it is a really interesting idea and would love to get the Internet's feedback on it, and what you think the ripple effects would be in the scenario described. Am very interested in writing this up and republishing it widely so it can be read by monetary policymakers in all major developed countries - if you know anyone like that, pass it on. In a move that would act like a bridge to a pre-Bretton Woods type of gold peg, (here is a great paper on a history of this in the US: https://fas.org/sgp/crs/misc/R41887.pdf) sovereign governments with gold holdings could (again, it is a theoretical idea - I am saying they COULD do this NOT that anyone or any country is doing this that I know of) establish open market operations to purchase bitcoins (partly as a diversification strategy) using their physical gold holdings at a fixed peg rate of 5 ounces per bitcoin. The reason I say 5 is because the current chart here seems to suggest that somewhat of a convergence to 5 oz is already occurring: https://www.xe.com/currencycharts/?from=XBT&to=XAU&view=10Y
If any government did this and offered to buy physically delivered bitcoins from private holders of bitcoin (no other coins just BTC) in exchange for private delivery of physical gold, then the standard governmental unit of physical gold (held in places like Fort Knox) - known as the Good Delivery Bar which is 400oz of gold - could be procured by any holder of 80 or more coins in a secure and sanctioned exchange with the government in question - the most impactful of course would be if the US did this.
My theory is that any time the exchange rate mechanisms in the forex or crypto markets violated the peg, there would be arbitrage opportunities that would bring the peg back in line. It would not only stabilize BTC, but the stabilization might spread via the 24/7 exchange rate mechanism in the crypto market to stabilize many cryptos that are still somewhat worthy experimental stores of value. Depending on the strength, credit, and depth of gold holdings of whatever governments engaged in this, it would seem that such a strategy could transform bitcoin into a new type of sound money, and also signal that owning bitcoin and gold is a priority of governments as well as their citizens. The gold standard was powerful both because it was tethered to something of limited quantity in the earth's crust with unique properties, but also because pre-Bretton Woods gold standards acted very much like a peg - and the government honored the peg no matter what. So in some sense it was still the "faith and credit of the government" that made that peg work so famously. I was partly inspired by this recent award-winning documentary www.inmoneywetrust.org in formulating this idea, and partly by my own academic interest in cryptocurrency. I believe bitcoin, above all others, because of its deflationary nature and algorithmically fixed quantity, is powerful all in itself - but with a peg from a real government to a real precious metal that many governments do in fact hoard (for whatever reason) - it could become both an international currency, and a form of truly sound money backed by governments' physical gold reserves and a legal or policy commitment to a peg of 5 ounces to 1 bitcoin.
What do you all think would happen if a major government or many major governments did this? Remember the idea is to convince monetary policymakers in governments to willingly and openly bypass completely the fiat currencies of their governments and to make no informational commitment to those free-floating fiat markets for forex - so the bitcoins transacted for in the peg wouldn't be bought with dollars or yen or anything that could be printed by fiat. This would simply be a convertibility guarantee by major governments that 1 bitcoin, transferred to the Treasury by a private citizen or business (again so the Treasury could diversify holdings of sound money), would be convertible and be guaranteed to be convertible to 5 oz of physical, deliverable gold bullion (or 80 bitcoins per bar). Here is a list of the largest physical gold holders on earth who could theoretically engage in this type of operation: https://www.investopedia.com/ask/answers/040715/what-countries-have-largest-gold-reserves.asp
Thanks Reddit! Looking forward to your thoughts!
Alex Kaufman
submitted by emersonian85 to Bitcoin [link] [comments]

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submitted by GiuliettaShop to Popify [link] [comments]

Forex Reserves Weekly Update #1 (February 07, 2020) - Total: $18.74 Billion (+0.49%); In SBP: $12.43 Billion (+1.28%)

The percentage changes are compared to the last week.
Source
The same website archived on February 15, 2020
Size of Foreign Exchange Reserves in the State Bank of Pakistan over the last 4 weeks:
January 17, 2020 - $11.5037 Billion USD
January 24, 2020 - $11.9152 Billion USD
January 31, 2020 - $12.2737 Billion USD
February 07, 2020 - $12.4308 Billion USD
The SBP updates data on its foreign exchange reserves every Thursday.
USD/PKR Exchange Rates over the last 5 weeks (data from XE at 10:00 UTC):
January 17, 2020 - 154.53 PKUSD
January 24, 2020 - 154.54 PKUSD
January 31, 2020 - 154.46 PKUSD
February 07, 2020 - 154.41 PKUSD
February 14, 2020 - 154.17 PKUSD
I'll see how long I can continue this for.
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex & Currency Update #13 (April 30, 2020): Forex Reserves in SBP - $12.33 Billion (+2.15%); USD/PKR - 159.90 (-0.43%)

The percentage changes in the title are compared to last week.
Today I changed my source for exchange rates from the XE's one-time rate to the SBP's daily averages.

Size of the Forex Reserves of Pakistan since April 03

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)** Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)**
April 03, 2020 $10.7225 Billion -4.14% -16.16% $16.9882 Billion -2.30% -10.14%
April 10, 2020 $10.9746 Billion +2.35% -13.45% $17.2955 Billion +1.81% -7.72%
April 17, 2020 $10.8892 Billion -0.78% -9.17% $17.3003 Billion +0.03% -4.45%
April 24, 2020 $12.0703 Billion +10.85% +7.91% $18.4630 Billion +6.72% +6.19%
April 30, 2020* $12.3294 Billion +2.15% +14.99% $18.7551 Billion +1.58% +10.40%
* May 1 was a public holiday.
**A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Daily Average Exchange Rate since April 03

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
April 03, 2020 166.80835 +0.9780% +8.3626%
April 10, 2020 166.81945 -0.0067% +4.8392%
April 17, 2020 166.67915 -0.0841% +2.9480%
April 24, 2020 160.87180 -3.4841% -3.3206%
April 30, 2020* 160.58945 -0.1755% -3.7282%
May 08, 2020 159.90335 -0.4272% -4.1459%
* May 1 was a public holiday.
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on May 11, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
Update #12
submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #12 (April 24, 2020): Forex Reserves in SBP - $12.07 Billion (+10.85%); USD/PKR - 160.49 (+0.30%)

The percentage changes in the title are compared to last week.

Size of the Forex Reserves of Pakistan since March 27

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
March 27, 2020 $11.1856 Billion -6.70% -12.32% $17.3875 Billion -3.96% -7.85%
April 03, 2020 $10.7225 Billion -4.14% -16.16% $16.9882 Billion -2.30% -10.14%
April 10, 2020 $10.9746 Billion +2.35% -13.45% $17.2955 Billion +1.81% -7.72%
April 17, 2020 $10.8892 Billion -0.78% -9.17% $17.3003 Billion +0.03% -4.45%
April 24, 2020 $12.0703 Billion +10.85% +7.91% $18.4630 Billion +6.72% +6.19%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since March 27

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
March 27, 2020 165.50442 +4.1882% +7.3144%
April 03, 2020 167.12309 +0.9780% +8.3626%
April 10, 2020 166.90109 -0.1328% +4.8392%
April 17, 2020 163.53441 -2.0172% +2.9480%
April 24, 2020 160.00875 -2.1559% -3.3206%
May 1, 2020 160.49457 +0.3036% -3.9663%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
Foreign Exchange Reserve Size Source
Forex Data archived on May 1, 2020
USD/PKR Exchange Rate Source
Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
Update #10
Update #11
submitted by AAAbbasi786 to pakistan [link] [comments]

Weekly Forex & Currency Update #4 (Feb. 28, 2020): Forex Reserves in SBP - $12.76 Billion (+1.32%); USD/PKR - 154.23 (+0.00%)

Update #1
Update #2
Update #3
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Forex Data archived on March 07, 2020
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since Jan. 31

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
January 31, 2020 $12.2737 Billion +3.01% +6.70% $18.6445 Billion +1.54% +3.10%
February 07, 2020 $12.4308 Billion +1.28% +7.29% $18.7354 Billion +0.49% +3.38%
February 14, 2020 $12.5047 Billion +0.59% +6.59% $18.7471 Billion +0.06% +2.61%
February 21, 2020 $12.5915 Billion +0.69% +5.68% $18.7428 Billion -0.02% +2.07%
February 28, 2020 $12.7575 Billion +1.32% +3.94% $18.8690 Billion +0.67% +1.20%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since Jan. 31

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
January 31, 2020 154.46442 -0.0476% Archives not available
February 07, 2020 154.41779 -0.0302% Archives not available
February 14, 2020 154.17194 -0.1592% -0.2317%
February 21, 2020 154.18339 +0.0074% -0.182%
February 28, 2020 154.22391 +0.0263% -0.1557%
March 06, 2020 154.22585 +0.0013% -0.1243%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex & Currency Update #3 (Feb. 21, 2020): Forex Reserves in SBP - $12.59 Billion (+0.69%); USD/PKR - 154.22 (+0.03%)

Update #1
Update #2
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Forex Data archived on February 28, 2020
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since Jan. 24

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
January 24, 2020 $11.9152 Billion +1.57% Archive not available $18.3627 Billion +0.50% Archive not available
January 31, 2020 $12.2737 Billion +3.01% +6.70% $18.6445 Billion +1.54% +3.10%
February 07, 2020 $12.4308 Billion +1.28% +7.29% $18.7354 Billion +0.49% +3.38%
February 14, 2020 $12.5047 Billion +0.59% +6.59% $18.7471 Billion +0.06% +2.61%
February 21, 2020 $12.5915 Billion +0.69% +5.68% $18.7428 Billion -0.02% +2.07%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since Jan. 24

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
January 24, 2020 154.53792 +0.0051% Archives not available
January 31, 2020 154.46442 -0.0476% Archives not available
February 07, 2020 154.41779 -0.0302% Archives not available
February 14, 2020 154.17194 -0.1592% -0.2317%
February 21, 2020 154.18339 +0.0074% -0.182%
February 28, 2020 154.22391 +0.0263% -0.1557%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex & Currency Update #5 (March 06, 2020): Forex Reserves in SBP - $12.79 Billion (+0.25%); USD/PKR - 159.20 (+3.22%)

Update #1
Update #2
Update #3
Update #4
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Forex Data archived on March 13, 2020
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since Feb. 07

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
February 07, 2020 $12.4308 Billion +1.28% +7.29% $18.7354 Billion +0.49% +3.38%
February 14, 2020 $12.5047 Billion +0.59% +6.59% $18.7471 Billion +0.06% +2.61%
February 21, 2020 $12.5915 Billion +0.69% +5.68% $18.7428 Billion -0.02% +2.07%
February 28, 2020 $12.7575 Billion +1.32% +3.94% $18.8690 Billion +0.67% +1.20%
March 06, 2020 $12.7899 Billion +0.25% +2.89% $18.9046 Billion +0.19% +0.90%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since Feb. 07

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
February 07, 2020 154.41779 -0.0302% Archives not available
February 14, 2020 154.17194 -0.1592% -0.2317%
February 21, 2020 154.18339 +0.0074% -0.182%
February 28, 2020 154.22391 +0.0263% -0.1557%
March 06, 2020 154.22585 +0.0013% -0.1243%
March 13, 2020 159.19722 +3.2234% +3.2595%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex & Currency Update #7 (March 20, 2020): Forex Reserves in SBP - $11.99 Billion (-5.44%); USD/PKR - 165.50 (+4.19%)

Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Archive isn't working for me for some reason today, so no archive.
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since Feb. 21

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
February 21, 2020 $12.5915 Billion +0.69% +5.68% $18.7428 Billion -0.02% +2.07%
February 28, 2020 $12.7575 Billion +1.32% +3.94% $18.8690 Billion +0.67% +1.20%
March 06, 2020 $12.7899 Billion +0.25% +2.89% $18.9046 Billion +0.19% +0.90%
March 13, 2020 $12.6796 Billion -0.86% +1.40% $18.7430 Billion -0.85% -0.02%
March 20, 2020 $11.9892 Billion -5.44% -4.78% $18.1051 Billion -3.40% -3.40%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since Feb. 21

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
February 21, 2020 154.18339 +0.0074% -0.182%
February 28, 2020 154.22391 +0.0263% -0.1557%
March 06, 2020 154.22585 +0.0013% -0.1243%
March 13, 2020 159.19722 +3.2234% +3.2595%
March 20, 2020 158.85140 -0.2172% +3.0276%
March 27, 2020 165.50442 +4.1882% +7.3144%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex & Currency Update #10 (April 10, 2020): Forex Reserves in SBP - $10.97 Billion (+2.35%); USD/PKR - 163.53 (-2.02%)

Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
Update #9
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Forex Data archived on April 18, 2020
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since March 13

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
March 13, 2020 $12.6796 Billion -0.86% +1.40% $18.7430 Billion -0.85% -0.02%
March 20, 2020 $11.9892 Billion -5.44% -4.78% $18.1051 Billion -3.40% -3.40%
March 27, 2020 $11.1856 Billion -6.70% -12.32% $17.3875 Billion -3.96% -7.85%
April 03, 2020 $10.7225 Billion -4.14% -16.16% $16.9882 Billion -2.30% -10.14%
April 10, 2020 $10.9746 Billion +2.35% -13.45% $17.2955 Billion +1.81% -7.72%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since March 13

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
March 13, 2020 159.19722 +3.2234% +3.2595%
March 20, 2020 158.85140 -0.2172% +3.0276%
March 27, 2020 165.50442 +4.1882% +7.3144%
April 03, 2020 167.12309 +0.9780% +8.3626%
April 10, 2020 166.90109 -0.1328% +4.8392%
April 17, 2020 163.53441 -2.0172% +2.9480%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex & Currency Update #8 (March 27, 2020): Forex Reserves in SBP - $11.19 Billion (-6.70%); USD/PKR - 167.12 (+0.98%)

Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Forex Data archived on April 3, 2020
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since Feb. 28

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
February 28, 2020 $12.7575 Billion +1.32% +3.94% $18.8690 Billion +0.67% +1.20%
March 06, 2020 $12.7899 Billion +0.25% +2.89% $18.9046 Billion +0.19% +0.90%
March 13, 2020 $12.6796 Billion -0.86% +1.40% $18.7430 Billion -0.85% -0.02%
March 20, 2020 $11.9892 Billion -5.44% -4.78% $18.1051 Billion -3.40% -3.40%
March 27, 2020 $11.1856 Billion -6.70% -12.32% $17.3875 Billion -3.96% -7.85%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since Feb. 28

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
February 28, 2020 154.22391 +0.0263% -0.1557%
March 06, 2020 154.22585 +0.0013% -0.1243%
March 13, 2020 159.19722 +3.2234% +3.2595%
March 20, 2020 158.85140 -0.2172% +3.0276%
March 27, 2020 165.50442 +4.1882% +7.3144%
April 03, 2020 167.12309 +0.9780% +8.3626%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex & Currency Update #9 (April 03, 2020): Forex Reserves in SBP - $10.72 Billion (-4.14%); USD/PKR - 166.90 (-0.13%)

Update #1
Update #2
Update #3
Update #4
Update #5
Update #6
Update #7
Update #8
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Forex Data archived on April 13, 2020
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since March 06

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
March 06, 2020 $12.7899 Billion +0.25% +2.89% $18.9046 Billion +0.19% +0.90%
March 13, 2020 $12.6796 Billion -0.86% +1.40% $18.7430 Billion -0.85% -0.02%
March 20, 2020 $11.9892 Billion -5.44% -4.78% $18.1051 Billion -3.40% -3.40%
March 27, 2020 $11.1856 Billion -6.70% -12.32% $17.3875 Billion -3.96% -7.85%
April 03, 2020 $10.7225 Billion -4.14% -16.16% $16.9882 Billion -2.30% -10.14%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since March 06

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
March 06, 2020 154.22585 +0.0013% -0.1243%
March 13, 2020 159.19722 +3.2234% +3.2595%
March 20, 2020 158.85140 -0.2172% +3.0276%
March 27, 2020 165.50442 +4.1882% +7.3144%
April 03, 2020 167.12309 +0.9780% +8.3626%
April 10, 2020 166.90109 -0.1328% +4.8392%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex & Currency Update #6 (March 13, 2020): Forex Reserves in SBP - $12.68 Billion (-0.86%); USD/PKR - 158.85 (-0.22%)

Update #1
Update #2
Update #3
Update #4
Update #5
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Forex Data archived on March 20, 2020
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since Feb. 14

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
February 14, 2020 $12.5047 Billion +0.59% +6.59% $18.7471 Billion +0.06% +2.61%
February 21, 2020 $12.5915 Billion +0.69% +5.68% $18.7428 Billion -0.02% +2.07%
February 28, 2020 $12.7575 Billion +1.32% +3.94% $18.8690 Billion +0.67% +1.20%
March 06, 2020 $12.7899 Billion +0.25% +2.89% $18.9046 Billion +0.19% +0.90%
March 13, 2020 $12.6796 Billion -0.86% +1.40% $18.7430 Billion -0.85% -0.02%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since Feb. 14

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
February 14, 2020 154.17194 -0.1592% -0.2317%
February 21, 2020 154.18339 +0.0074% -0.182%
February 28, 2020 154.22391 +0.0263% -0.1557%
March 06, 2020 154.22585 +0.0013% -0.1243%
March 13, 2020 159.19722 +3.2234% +3.2595%
March 20, 2020 158.85140 -0.2172% +3.0276%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Weekly Forex and Currency Update #2 (Feb. 14, 2020): Forex Reserves in SBP - $12.50 Billion (+0.59%); USD/PKR - 154.18 (+0.01%)

Update #1
The percentage changes in the title are compared to last week.
Foreign Exchange Reserve Size Source
Forex Data archived on February 22, 2020
USD/PKR Exchange Rate Source

Size of the Forex Reserves of Pakistan since Jan. 17

Date Foreign Exchange Reserves in the SBP Week-on-Week Percentage Change (In SBP) Month-on-Month Percentage Change(In SBP)* Total Foreign Exchange Reserves Week-on-Week Percentage Change (Total) Month-on-Month Percentage Change (Total)*
January 17, 2020 $11.7315 Billion +1.26% Archive not available $18.2710 Billion +0.81% Archive not available
January 24, 2020 $11.9152 Billion +1.57% Archive not available $18.3627 Billion +0.50% Archive not available
January 31, 2020 $12.2737 Billion +3.01% +6.70% $18.6445 Billion +1.54% +3.10%
February 07, 2020 $12.4308 Billion +1.28% +7.29% $18.7354 Billion +0.49% +3.38%
February 14, 2020 $12.5047 Billion +0.59% +6.59% $18.7471 Billion +0.06% +2.61%
*A month refers to four weeks, as the data is released on a weekly basis.

USD/PKR Mid-Market Exchange Rate since Jan. 24

Date* USD to PKR Exchange Rate Week-on-Week Percentage Change Month-on-Month Percentage Change**
January 24, 2020 154.53792 +0.0051% Archives not available
January 31, 2020 154.46442 -0.0476% Archives not available
February 07, 2020 154.41779 -0.0302% Archives not available
February 14, 2020 154.17194 -0.1592% -0.2317%
February 21, 2020 154.18339 +0.0074% -0.182%
*Measurements taken at 10:00 UTC (3:00 P.M. in Pakistan)
**A month refers to four weeks to keep consistent with the last chart
submitted by AAA786786 to pakistan [link] [comments]

Cheap-ish Foreign Exchange (CAD->EUR)

This may help for those looking to get Euros on the cheap.
Most of you know the trick that involves pre-loading your credit card (preferably one with no forex fee) with a positive CAD balance and then withdrawing cash advances at a European ATM when you arrive in country. The European ATM spits out EUR for you and you're only charged ATM/cash advance fees that work out to around $5-10. This works well but is impractical for larger amounts of cash as you're limited per day to whatever the cash advance limit on your card is (in CAD).
I am travelling to Europe shortly and needed to figure out a way to obtain a larger quantity of Euros for the lowest possible exchange. For various reasons it would not be possible in this case for me to do the cash advance ATM trick. I should note that I have a relationship with one of the big-5 banks which nets me a considerably better exchange than offered to their retail customers, but the rate was still not great (about 2% markup.) So I had to find another solution. I found foreign currency ATMs in Toronto which will spit out EUR but unfortunately they debit your account in CAD and charge an insane markup (it was 9% at BMO's foreign currency ATM!!). I do not have an EUR brokerage account so could not do Norbert's gambit, either.
So what's the solution?
Scotia offers a Euro-denominated savings account for a very reasonable fee of $1 euro per month. If you open that account and obtain the wire information, you can use a foreign exchange service like XE.com or Knightsbridge to get an extremely favorable exchange. These services basically do an EFT debit from your CAD bank account and then send a wire transfer to the recipient (in this case your own Scotia EUR account). You can then withdraw euros in cash. The exchange rates are VERY good (much less than 1% markup). Scotia charges $15 CAD for receiving the wire transfer and that's about it. Took me like 15 minutes to open the EUR account.
Hope this helps someone out. This can make a huge difference on larger transactions. One note is you have to call the branch before withdrawing large quantities of EUR as they likely won't have enough on hand - takes some time to order it in.
submitted by nsandwich to churningcanada [link] [comments]

Cheapest way to transfer money from Canada to Australia?

I frequently transfer money from Canada (where I live and work) to my Australian bank account (to pay off my mortgage).
I used to use my bank, but they were charging a high fee, so I switched to Canadian Forex (now rebanded to OFX), who are charging $15 per transaction. I'm curious to know whether the rates they offer are good value compared to other services though.
For example, if I transfer $2000 today, the rate they are offering is 1.0265
On xe.com, the current exchange rate is 1.04506
Is that a fair premium?
Is there an even cheaper way to transfer my money?
submitted by jadrad to PersonalFinanceCanada [link] [comments]

My experience with Norbit's Gambit [google sheets link included]

Just want to share my experience doing Norbit's Gambit, for anyone that may want to learn on my experience, or tell me all the ways in which I am wrong.
I've posted a question earlier, asking how to make sure the market didn't swing in the wrong direction. And yes, I understand it's called a "gambit" for a reason.
=== TL;DR === - Wanted to save $65 on currency conversion while buying CAD $3,500 worth of US stock - Overestimated forex fee, underestimated NG cost - Murphy happened... - Lost potential gains of CAD $185.80 while waiting - Is the gambit ever worth it?
=== The goal === - On August 25th, use about CAD $3,500 to buy some US Netflix (NFLX) shares
=== The method === - Buy DLR in CAD - Call brokerage to journal over to US side - Sell DLR.U in USD - Buy NFLX with USD
In a lot of my research, I've been told the "fee" when going through the brokerage (Questrade in my case) is 2%. That's not too accurate.
=== The brokerage Forex rate/fee === So I assumed 2% of $3,500 would be $70.
However it's really an addition of 199 basis points to the exchange rate. I believe they use the closing exchange rate on the date of the transaction.
So if the exchange was 1.2500, it's 1.2699, and $CAD 1000 nets $USD 787.46 ($USD 12.54 short of ideal $USD 800). If we convert 12.54 to CAD, it's $CAD 15.68 or 1.568% on the original $CAD 1000.
But if the exchange is 1.2200, it's 1.2399, and $CAD 1000 nets $USD 806.51 ($USD 13.16 short of ideal $USD 819.67). If we convert 13.16 to CAD, it's $CAD 16.06 of 1.606% of the original $CAD 1000
The "conversion fee" is dependent on the exchange rate, but I can't figure out a quick direct way to calculate what the "fee" would be in source currency %. The closest guesstimate is to divide the basis points by the current exchange rate, as below:
On August 25th, the exchange rate was 1.2483. So the above guesstimate for the Forex "fee" would be $55.80. Or more accurately $54.91, close enough. Still, that's 21.5% lower than the broad *$70** estimate earlier.*
=== The NG effective fee === Here once again, the common consensus is that the NG's fee is just a cost of buying and selling an ETF. So, with QT's free ETF purchases, the guesstimate is just about $5 for the selling commission.
When I bought DLR ETF on August 25th, I got it for CAD $12.42 per share (that's not the day's close price, but what I actually paid). the US side of DLR.U is always US $9.93. The gives the DLR Exchange Rate of 1.2508... already different from the ideal 1.2483 (I suppose that's how the ETF makes money)
So, it would appear the cost/fee of NG is just CAD $0.99 + US $5.94 (CAD $8.40)... but not quite. Let's look as the actual US dollar amounts. Since we can only buy whole shares of DLR + ECN fee, from this point I am converting CAD $3,502.44 + $0.99 = $3,503.43
The difference between the ideal US $amount and what I am left with is the "fee" for doing NG. US $12.24, or CAD $15.28. This sets the NG's Effective Exchange Rate as 1.2538 or a "NG's fee" of 0.44%. Please note that this rate/fee is *based on the converted amount*: the more you convert, the less/cheaper it is.
So comparing the actual cost of NG vs QT's auto conversion and the guesstimates is quite different - Actual $15.28 vs $54.91 ($39.63 spread) - Guesstimate $5 vs $70 ($65 spread)
=== The Time factor === Now that I have US $2,794.32, let's buy some NFLX. The date now is Sept 5th (yes, the NG completed earlier, but I am human... also QT didn't call me when the journaling was completed so I got sidetracked).
Before doing the NG, I calculated that NFLX dropped about 2.02% in 10 days. It could also go up by same amount. That 2.02% rise on CAD $3,500 value would be a gain of $70.7... comparable to $65 guesstimate loss of doing currency auto-conversion through QT (QTAC). So in my analysis, at worth case it would be a wash, in best case I save some money on NG. ... We already know now that the actual cost of QTAC is much less ....
This was the end result of my NG: spent CAD $3,503.43 and 11 days later I have a US stock+cash Portfolio of value US $2,789.37
But considering the increase in NFLX stock over those 11 days, what if I would have just went with Questrade's Auto-conversion (QTAC) route?
In 11 days, the value of NFLX is @178.79 - Current value of 16 NFLX shares = US $2,860.64 - Plus cash US $77.57 for a Total Portfolio Value of US $2,938.21
If, on August 25th, I would have auto converted currency with QT and bought NFLX, I would have a portfolio value of US $2,938.21 on September 5th.
Instead, starting the Norbit's Gambit on August 25th, I bought NFLX on Sept 5th and have a portfolio value of US $2,789.37
Instead of saving a guesstimate of CAD $65, I have lost potential gains of US $148.84 or CAD $185.80
=== Murphy... or Loonie... whatever === In all of above, I tried to keep the currency fluctuations isolated. So apart from initial conversion on August 25th, all my future (September 5th) portfolio values were in USD. But as Murphy would have it, the BoC rate announcement made the loonie stronger in between my NG.
Based on above, doing QT auto-conversion - On August 25th, nets US $2,762.52 - On September 5th, nets US $2,817.62 I would have got US $55.10 more just by doing the QTAC later.
If I would have bought NFLX on September 5th after doing QTAC - 15 whole shares @178.79 + $4.95 comm leaves me with US $130.82 in cash - Total NFLX + Cash portfolio value of US $2,812.67
That's still US $23.30 more than doing the NG, although still less than just buying NFLX outright on August 25th and letting it grow.
=== Final conclusion === Smaller amount (CAD $3,500) for NG for a stock purchase that could/did swing 6% was not worth it. Loonie getting stronger also made the whole exercise fruitless, but even eliminating the currency fluctuation, the growth of the stock outperformed the savings of NG.
Playing with my numbers, assuming the currency fluctuation is fixed, for CAD $3,500, doing Norbit's Gambit vs Questrade's Auto-Conversion is breaking even when the stock appreciation is no more than 1.18% during the time it takes to complete NG (11 days in my case). Even if you are more punctual and can complete it in 5 days, you still need to make sure the stock doesn't appreciate more than 1.18% in 5 days.
By comparison, if converting CAD $10,000, it's break even if stock rises 1.27% during that time. When doing CAD $50,000 then 1.31%
Hmm.... so even at high amounts of CAD $50,000 the tolerance to stock fluctuation is pretty low. So is it worth it?
Ultimately I've:
For anyone that cares, here is public Google Sheets docs to verify my math (File -> Make a copy, in order to edit values) https://docs.google.com/spreadsheets/d/12nH8Q_0cKFtFTW_yomASHtpLXN6oYuTgkXeTNAMkQGY/edit?usp=sharing
submitted by hydraSlav to PersonalFinanceCanada [link] [comments]

What's the best way to send money from my SA bank account to UK bank account?

I just used PayPal (I have one PayPal account per bank account).
Sent R3032.49, recieved £155.67 (Exchange rate according to xe.com was 18.39 £)
Are there better ways?
I pretty much have to do this monthly to pay off an overdraft. Need to try reduce fee expenses.
I think next month I might just send R1000 x 3 methods
  1. FNB Forex/Swift native banking method
  2. Paypal method I have been using
  3. Bitcoin conversion
But any ideas up front on the best way?
submitted by dnk8n to capetown [link] [comments]

Looking for ForEx chart software/resource recommendation

Hi all,
I'm in the IT field. One of my clients asked me to set up an updating currency exchange rate table display in an office so an employee can have easy realtime exchange rate information on various currency valuations vs CAD & EURO. They'd like to just display this on a large TV.
I know nothing about forex or currency other than having used xe.com a few times, etc, so I figured maybe there was a web service available that would do this. XE.com looks like it stops refreshing after 15 minutes which is understandable for a free solution.
I thought I could find a good recommendation myself, but I've sheepishly got to admit that I'm in over my head: There's so much lingo in the field that I'm slowly going crazy. Plus maybe someone will have a good idea off the top of their head.
The basic requirements are:
So as you can imagine, the first thing I did was google currency exchange software and everything seems EXTREMELY overkill for this situation. Tons of options for trading, historical reports, value line graphs, etc. I gave them the names of a few of these pieces of software and they balked at the ~500EURO/mo price tag so I suppose I'll run into the same problems if I quote them anything expensive, but that's my battle to fight not yours.
I'd be extremely grateful for any recommendations. Literally all I'm looking for is something like the XE.com feed which can:
Apologies if there's a better subreddit for this question. Open to all suggestions. Thanks again!
submitted by Martytoof to Forex [link] [comments]

Best exchange rate for small foreign currency purchases?

With the gradual decline of the AUD to around parity with the USD, and predictions of worse to come, I've been thinking it'd probably be a good move to convert some of my for-travel savings intended to use over the next few years. Probably be looking at moving $7-8000 into a mix of USD/GBP/Euros
I've got a Commbank Travel Money card, which I've used when travelling in the past, but the rates aren't fantastic (about 4 cents below the market rate). Are there any realistic alternatives that offer better rates?
I've seen that HSBC offer foreign currency accounts for relatively low minimum deposit amounts, which I understand would let me take advantage of the more favourable exchange rates offered by OzForex/XE/etc, but I'm wondering if that sort of thing would be really worth it, since I'd only be saving a a few hundred bucks all up, and it doesn't look like it can be used as a transaction account when travelling (no ATM/EFTPOS/BPay facilities), meaning I'd presumably have to withdraw cash and cart that around when it actually came time to travel?
Does anyone have any favourite methods for this sort of thing?
submitted by David_McGahan to AusFinance [link] [comments]

Looking for: Currency Exchange table software

I work for an MSP. One of my clients asked me to set up an updating currency exchange rate table display in an office so an employee can have easy realtime exchange rate information on various currency valuations vs CAD & EURO. They'd like to just display this on a large TV.
I know nothing about forex or currency other than having used xe.com a few times, etc, so I figured maybe there was a web service available that would do this. XE.com looks like it stops refreshing after 15 minutes which is understandable for a free solution. I thought I could find a good recommendation myself, but I've sheepishly got to admit that I'm in over my head: There's so much lingo in the ForEx field that I'm slowly going crazy.
The basic requirements are: - Can be web based or Windows software - ONLY features required are the ability to show a rapidly updating valuation of CAD:EURO, CAD:USD, CAD:ILS, CAD:PLZ, USD:EURO, and likely a few others they didn't directly give me examples of. - Reliable
So as you can imagine, the first thing I did was google currency exchange software and everything seems EXTREMELY overkill for this situation. Tons of options for trading, historical reports, value line graphs, etc. I gave them the names of a few of these pieces of software and they balked at the ~500EURO/mo price tag so I suppose I'll run into the same problems if I quote them anything expensive, but that's my battle to fight not yours.
I'd be extremely grateful for any recommendations. Literally all I'm looking for is something like the XE.com feed which can:
Also crossposted this to /forex just in case :)
Merci!
submitted by Martytoof to software [link] [comments]

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How to Know Currency Exchange Rate Online - YouTube

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