[ELI5] Aren’t currency conversions easily abusable?

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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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Anonymous 0 Comments

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.

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