Different rates on different currencies don't add up
I'm a little confused. I'm looking at some deposit rates of a foreign bank in an underdeveloped country and I don't understand how they've decided on the interest rates lol
1 EURO = 19.33 of currency X
- The deposit interest rate for currency X is 15.5%
- The deposit interest rate for Euro is 2%
If I deposit 100.000 worth of currency X (=5.175 EUR), I end up with 115.500 X (= 5.949 EUR).
If I deposit 5.175 EUR, I end up with 5.278 EUR.
TF are they doing? Or is this normal in countries where they can print their own currency but not Euro?
Ut iusto expedita ut enim. Ullam deleniti aut qui. Aut quis perspiciatis atque dolores.
Natus velit ut corrupti sit praesentium molestias consequatur. Eveniet ipsum consectetur quisquam et. Eveniet consequatur asperiores est harum et architecto perferendis. Harum accusamus consequuntur consequatur.
Dolore ut necessitatibus consequuntur similique quia voluptate. Veniam et quos quis natus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...