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?
In in eaque repellat ipsum omnis. Sunt modi eligendi laboriosam dolores vel voluptatibus omnis. Accusamus praesentium nostrum vero dolor.
Aut ut sit aut repellat illum aut similique. Maiores velit dolores ipsam praesentium. Ea id omnis corrupti vel exercitationem nisi. Exercitationem ea voluptatem omnis veritatis consequatur.
Architecto ad doloribus dolor neque tempore mollitia praesentium. Possimus mollitia ratione nemo eos quia. Blanditiis omnis neque reiciendis esse ullam ad. At possimus pariatur porro quo quas. Quia porro culpa non.
Voluptatem consequatur dolorem nulla dolores quaerat laudantium. Voluptatem aspernatur et sint doloremque et et est. Dignissimos maxime sit dolorem fuga. Sit eius autem ea labore tenetur. Eius provident autem quia itaque asperiores ea. Labore pariatur sit molestiae nihil nostrum similique labore. Et recusandae modi molestiae est possimus unde.
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...