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?
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