Comments on: Yen to Pounds : Best Exchange Rates?

Question: Yen to Pounds : Best Exchange Rates?

0bvious — Thu, 21 Sep 2006 23:35:06 -0800

Currency Exchange: I have a handful of Japanese Yen and a desire the British pound wasn't so strong. What are my best options for getting my Yen converted into Sterling?

Any advice as to what I could do with my Yen to increase its Pounds Sterling value?

By: pompomtom

pompomtom — Thu, 21 Sep 2006 23:50:57 -0800

Convert it from within the UK.

By: ChasFile

ChasFile — Thu, 21 Sep 2006 23:56:32 -0800

Buy a commodity with it that the Japanese have alot of but the British have none of in Yen, and then sell that commodity in Pounds. Say, perhaps, computer chips, non-embarassing royaly, or self restraint (hey-o!)

By: QueSeraSera

QueSeraSera — Fri, 22 Sep 2006 01:46:12 -0800

Ooh, good call, ChasFile. Only how about buying a hot collectible in cash in Japan and then selling it via online auction?

About 8 years ago at the height of the PEZ dispenser boom, a friend requested a set of 5 Japan-only PEZ that could be bought at any convenience store for 300 yen a piece. They paid me actual cost plus tip, but after I saw how much the set was going for on eBay (well over 4, 5 times their value), I purchased another set and sold it for kicks. They went FAST. I should have bought more.

By: holgate

holgate — Fri, 22 Sep 2006 02:14:09 -0800

Yep, cultural arbitrage is the way forward. Look at British blogs with an interest in Japanese culture and technology, pick something small and cheap (strappus, pens, chocolate) and head to eBay.

By: louigi

louigi — Fri, 22 Sep 2006 05:25:08 -0800

If you're considering a straight-up currency exchange, XEtrade has a best rate guarantee. After shopping around, I found it beat anything else I could find by at least a percent, there's no minimum trade, and if you choose your method of money transfer carefully (i.e. you don't use wire transfer) then there's no flat fee, so the cost can be really low.

By: 0bvious

0bvious — Fri, 22 Sep 2006 08:09:46 -0800

I am actually back in the UK, which alters things a bit. I have signed up for XEtrade. Any other ideas?