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Monday Morning Joke

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Super Contributor
I phone Standard bank forex desk to exchange spme dollars to rands... and this is how the conversation goes... (dealer) SO sorry the dollar is on holiday this morning so we cant give you a rate for today, but I can give you a rate for tomorrow of R6.95.... ( John)so you dont know what the rate is this morning but you can give me a rate for tomorrow. And the rate for tomorrow looks like fridays price...(dealer) the system cant give me a price for taoday but it can give you tomorrows rate becasue the dollar won't be on holiday then,...( John) so your system cant see the dollar trading on your own dealing platform but it can tell the fututre..( dealer) yes..( John) may I ask it for the winning lottery numbers for next week then please, or do you realise what junk you are talking... (dealer) ah yes, I see your point can I phone you rright back...
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Precious - Very Good
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Valued Contributor
the Q is .. is he phoning back with the lotto numbers ??
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For some reason, the STB forex desk always gives a higher future rate than the current rate they quote you. Either they are permabulls - or the call centre operators are instructed to make better margin against those who don't attempt to bargain. But hats off to you actually getting through to them. In the last year - I have to contact the inward clearing dept every month - and to date I have never been able to get through without private banker help
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Valued Contributor
the future always costs more .. cost of carry an all ..
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No, poor choice of words on my side - I meant that I always get a better rate if I ask for the future price, hence my comment that the pricing is wierd
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