[ELI5] Why is the exchange rate between two currencies not the same going both ways? Like why is the exchange rate of USD to GBP different from GBP to USD

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[ELI5] Why is the exchange rate between two currencies not the same going both ways? Like why is the exchange rate of USD to GBP different from GBP to USD

In: Economics

6 Answers

Anonymous 0 Comments

it’s because any places where you go to actually convert currency is taking a cut. so you lose money converting back and fourth.

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