I want to buy 100 euros.How much can i earn?Please suggest.?

Question

I live in New Delhi,i am 20 years old.I want to buy 100 euros.Now days rate of exchange is 65.70 rupees, per euro.How much i can earn if i buy 100 Euros.I can keep 100 Euros for 1 year, even for 2 years, if i'll get much profit. Please suggest.URGENT.

Answer 1

The commission from buying and then selling the euro would overwhelm the profit you might make.

The commission from buying/selling such a small amount is too large a portion of your investment.

Answer 2

This is called Currency trading or Forex trading.  For this you need to open a forex trading account with any of the service providers.

It is belived that the USD will further decline against the other currencies and hence EURO and other global currencies including the rupee will appreciate in the future.  So you can expect good gains.

Answer 3

you don't earn anything - first, you will have to pay an exchange rate conversion fee and hope the euro goes up by enough to make a profit after you pay another conversion fee to change it back to rupees - BUT... the rate could go down and you could lose money just as easily - it's not interest income like a bank account

Answer 4

This all depends on wether or not the euro grows stronger against the rupee over the next year or so. If it does then you will make money,all depends on how much it grows.

Although you need to look at the commission you may be charged to buy it and then sell it. If it was that easy to make money this way we would all be doing it.

Answer 5

just dont buy, it is possible that euro may be at 65 rs. after two years, u loose the money, instead if u invest in mutual funds/bank FDs u can earn more.

Answer 6

unpredictable. even if u do make a profit in two years it could be app.300 to 500 rupess. is it really worth it ???