When should you sell dollars
When Should You Sell Dollars – The business of buying and selling dollars is one of the most popular businesses today. As is known in this world there are different currencies as well as exchange rates. By utilizing the different exchange rates of this currency, you will benefit from this business. This business is arguably quite easy because you only need to buy dollars then save it for resale.When buying dollars you certainly hope to be able to buy dollars at a lower price and then sell them at a higher price, so you will get even greater profits.
Buy and sell dollars
But this is certainly not easy because buying or selling dollars can not be done at any time. There are certain times where you have to sell and buy dollars. Surely you are curious when the time is right and good, especially to sell your dollar.Before we discuss when it’s good to sell dollars, it’s a good idea to know some of the things you need to pay attention to when going to buy and sell dollars like:
Before making a trip or buying dollars you need to research the possibility of dollar exchange rate movements. The trick is to multiply reading news on economic and business information. In this case you need to understand government policies and variables that can determine the dollar exchange rate against the rupiah or vice versa. Also follow economic developments in Indonesia and the United States. If the country’s economy is predicted to be worse in the future, then it is likely that the currency will also weaken.
Beware of the investment timeframe
The time span of investment and buying and selling dollars must be noticed. This is because in principle the exchange rate can rise, it can go down anytime. For example, if you buy dollars and exchange them for rupiah 4 years later, it is important to predict the movement of the dollar exchange rate against the rupiah for the next four years. But if you are interested in saving your dollar for a long time, you should save it at the Bank. This is because the dollar must not be kept too long.
Understand the terms of buying and selling rates
When you enter the money changer or the bank you will find a written exchange rate and selling rate. The selling rate is the same as the value (exchange) offered by the money changer or bank for the dollar it sells. While the buying rate is the same as the value of (exchange) money changer or bank when buying dollars from you. in this case the buying exchange rate is lower than the selling rate. The selling rate is generally different from one bank to another.
For that you should look for a bank that sells dollars at the lowest price. Although it is quite different, the difference is generally only only between tens of IDR, it can be 50.60 or even 30. But basically the difference between one bank and another is not too far away. Even when the dollar value is high, the exchange rate in each bank will also go up consistently
Buy dollars regularly
Actually buying dollars in large quantities is not recommended. The truth is to buy dollars in small amounts, but on a regular basis (called averaging). With this averaging method the dollar value you buy will be evenly distributed. The value of the dollar you buy is not fixed at one price. This is arguably the most effective way to anticipate the fall in the value of the dollar against the rupiah.
Buy at an official place
Buying dollars at an official place can keep you from counterfeit money. As we know counterfeit money does not only affect the rupiah, the dollar can be counterfeited. Therefore, you must ensure that the dollar you buy is genuine. The trick is to buy dollars in an official place. Like money changers and banks. The risk of getting counterfeit money in a bank is certainly very small. While the money changer can sell pals, but it is unlikely that the money changer has a name or has many customers. Therefore, choose a money changer who has a good reputation. You can search this information on the internet or ask an acquaintance who might have traded at the money changer.
Now from the above, of course you already have an idea of when it is appropriate to sell your dollar. at that time:
- When the condition of the Indonesian economy is not good / bad
This is because when the economy in Indonesia is bad or in a bad condition, the value of the currency in Indonesia is the rupiah. The worse the Indonesian economy is, the weaker the value of its currency. Now the weaker the currency of the rupiah will result in a stronger dollar exchange rate. For those of you who have dollar savings at that time is the best time. To know this time, of course you have to be diligent in following the news of economic development in Indonesia.
- When the United States economy is in good condition
Along with the condition of the US economy which began to pick up and improve, it affected the value of its currency. Because the better the economic condition of the United States, the stronger the exchange rate is the dollar. This can be seen from one indicator of the return of greenbuck is the dollar index. This is an index that measures the performance of the US dollar against a number of major world currencies. If this index shows the strengthening of the dollar, of course this will be a good time for you to sell the dollars you have.