4 ms·
Dollars work fine as a transfer currency as well, given the short transaction time. 1. I order A Thing from ThingSupplier for $1000. 2. I direct MajorBank to
by drivingmenuts 10y ago
Dollars work fine as a transfer currency as well, given the short transaction time.
1. I order A Thing from ThingSupplier for $1000.
2. I direct MajorBank to transfer $1000 to ThingSupplier from my account.
3. Underpants gnomes at ThingSupplier coordinate with Shipper.
4. I receive A Thing (now, The Thing) from Shipper.
There's no need to waste money in conversion fees.
What am I missing here?
Unless you're into high-speed trading, etc., the volatility of a currency is not going to have an effect, because prices don't update that fast, because ThingSupplier is not going to tie their prices to fast-fluctuating currency value. Doing that would Not Be In The Interests of their Customers.
(Capped words because why not.)