Currency Exchange...
Prague, Czech Republic
While in Switzerland I couldn't help but notice the shear number of watch stores. They are everywhere, on every corner, on every street. Well, Prague has about just as many currency exchange booths. I don't know why they have so many, but they do. The annoying thing is that so many of the booths display their "sell" price out front instead of their "buy" price, making it look like a much better deal then it really is.
For example, here in Prague, the US dollar is getting around 25 to 1. However, you'll see signs out front that go up as high as 30 crowns to the dollar, luring you in and no doubt suckering quite a number of people into exchanging their money at the booth. Of course, once they see that the "buy" rate was actually around 20 to 1, then they begin to understand they've just been had.
The other two scams that take place are the "zero commission" scam, which isn't really the case unless you're exchanging a ton of money, and the "rates vary based on the amount you exchange" scam, which gives you an even worse rate if the amount of money you're exchanging isn't that high. (And since you don't need a ton of money in Prague, you almost always get hit by this one.)
Anyways, long story short is that you're probably getting a better deal from guy selling watches on the street in Switzerland then from the guy exchanging your money in Prague.
Kenny
While in Switzerland I couldn't help but notice the shear number of watch stores. They are everywhere, on every corner, on every street. Well, Prague has about just as many currency exchange booths. I don't know why they have so many, but they do. The annoying thing is that so many of the booths display their "sell" price out front instead of their "buy" price, making it look like a much better deal then it really is.
For example, here in Prague, the US dollar is getting around 25 to 1. However, you'll see signs out front that go up as high as 30 crowns to the dollar, luring you in and no doubt suckering quite a number of people into exchanging their money at the booth. Of course, once they see that the "buy" rate was actually around 20 to 1, then they begin to understand they've just been had.
The other two scams that take place are the "zero commission" scam, which isn't really the case unless you're exchanging a ton of money, and the "rates vary based on the amount you exchange" scam, which gives you an even worse rate if the amount of money you're exchanging isn't that high. (And since you don't need a ton of money in Prague, you almost always get hit by this one.)
Anyways, long story short is that you're probably getting a better deal from guy selling watches on the street in Switzerland then from the guy exchanging your money in Prague.
Kenny
posted by Kenny Carruthers at 11/01/2005 05:39:00 AM
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