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And the bank who had the dollars, why would they want money on account at the ECB on which they get charged? It's an exchange, not a conversion remember.
by neilwilson 5y ago
And the bank who had the dollars, why would they want money on account at the ECB on which they get charged?
It's an exchange, not a conversion remember.
- Rexxar 5y agoThey have probably other reasons to buy euros (because they need them, not to put them on their ecb account). It's an exchange as you say, every participant has its own reasons to trade.
- neilwilson 5y agoBut that's a fallacy of first use isn't it. Somebody has to hold the money in their ecb account at some point, because everything is merely an exchange. You can't get rid of it. All you can do is move it around.