Can’t just about anyone from US save up some cash and travel to a country with very inflated currency to become rich and buy whatever they want?
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You seem to be describing a holiday?
That is how it works currencies values always go up or down relative to each other’s economies. They would still be making money from tourism if they did that. If they moved there they would make money from you living there daily it’s not free they are converting your say usd values into say phillipine peso which has hovered around fifty to a dollar for a while.
Generally, if the 1 USD is worth a lot if currency X, country X isn’t doing too hot and it’ll cost a boatload of currency X to buy luxury goods.
However, this can be used in limited circumstances. Retirees often choose these kinds of countries, so that their limited funds can go much farther. But they’re more concerned about living expenses, not luxury goods.
Yes, you can take your usd to a poor country and live like a king even on minimum us wages. The real question is would you want to or have a job that can be done overseas. There are many people called digital nomads that just go wherever they feel like with a job that can be done anywhere.
Yes, Yes, no.
Yes, you can save up US dollars.
Yes, you can go to a country with a badly inflated currency and buy local currency.
No, you cannot buy whatever you want. Frankly, if your $100 bought
10B rubles, you can’t buy as much with 10B rubles as you can with $100. It’s not like a $900 iPhone only costs 900 rubles, that’s not how prices work.
No, the money still has the same buying power at the time you exchange it which is why there is an exchange rate. You can hold the currency over time and hope it’s value rises relative to other currency kind of like a stock market but it’s not instant and many things impact it’s value.
For example, if 1USD is worth 100 Rubles, it means a Ruble is worth one penny. So if you wanted to buy a PS5 you would need $500USD or 50,000 Rubles
Luxury goods, or anything that could easily be taken back with you to a rich country, is not usually cheap in a poor country. So yes, you could go to a poor country and buy a lot of food, or a big house, or a lot of repair services for a car. Notice, those aren’t things you’d necessarily want more than a “normal” amount of, and you can’t take them home with you. Anything you could easily take home with you like a Lamborghini or a new iPhone or a bunch of gold is either never imported to the poor country to begin with, or is exported to sell for a high price in a rich country. So you may be able to get those things anywhere in the world, but they are not any cheaper than they would be in the US.
Not sure what your question is, but yes, you can exchange $100 for 512 Brazilian real in Brazil. Of course that doesn’t make you rich – an iPhone 13 costs $799, an iPhone 13 costs $1446
No, because prices are adjusted to correlate to the local currency. If Reddistan Gold is 1000:$1. then an item would cost 1000x in the local currency that it does in the U.S.
Professional curency traders do this for a living, or at least supplement other investment income with it. Transaction fees will eat up profit for most people most of the time. You can make money though
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