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user wroteI heard cases where the fresh money thing turned out to be a lie. Without knowing with which banks, but a friend of a friend had a relative transfer 18k$ from abroad and the bank paid in lira at 1500 and she is now extremely angry and depressed.
She made a mistake in not consulting the bank how to get her money in full before transferring but anyway she should wait before cashing in @ 1500LL. New laws are being made that will make it clear to the banks that this is fresh money.
a month later
A question for you guys, I was offered a to buy a 3500 usd cheque for 6mil lbp, would you go for it?
Edit: the circumstances of this offer are not simple, so i didn't stumble upon a guy that offered me this, it is much more complicated, I just want your opinion about the deal.
NuclearVision wroteA question for you guys, I was offered a to buy a 3500 usd cheque for 6mil lbp, would you go for it?
Edit: the circumstances of this offer are not simple, so i didn't stumble upon a guy that offered me this, it is much more complicated, I just want your opinion about the deal.
No
NuclearVision wroteA question for you guys, I was offered a to buy a 3500 usd cheque for 6mil lbp, would you go for it?
Edit: the circumstances of this offer are not simple, so i didn't stumble upon a guy that offered me this, it is much more complicated, I just want your opinion about the deal.
Of course not. Just keep it with you and hopefully situation gets better. Ask yourself why someone wants really to give you 6mil for it? He will tell you "I am doing you a favor. You will lose it sooner or later" But don't do it unless you really need the money urgently.
TheIlluminative wrote
NuclearVision wroteA question for you guys, I was offered a to buy a 3500 usd cheque for 6mil lbp, would you go for it?
Edit: the circumstances of this offer are not simple, so i didn't stumble upon a guy that offered me this, it is much more complicated, I just want your opinion about the deal.
Of course not. Just keep it with you and hopefully situation gets better. Ask yourself why someone wants really to give you 6mil for it? He will tell you "I am doing you a favor. You will lose it sooner or later" But don't do it unless you really need the money urgently.
Its the other way around, a friend wants to sell something, he got a offered a cheque for it, he doesn't want it, he asked me if i would give him 6mil for the cheque.
NuclearVision wrote
TheIlluminative wrote
NuclearVision wroteA question for you guys, I was offered a to buy a 3500 usd cheque for 6mil lbp, would you go for it?
Edit: the circumstances of this offer are not simple, so i didn't stumble upon a guy that offered me this, it is much more complicated, I just want your opinion about the deal.
Of course not. Just keep it with you and hopefully situation gets better. Ask yourself why someone wants really to give you 6mil for it? He will tell you "I am doing you a favor. You will lose it sooner or later" But don't do it unless you really need the money urgently.
Its the other way around, a friend wants to sell something, he got a offered a cheque for it, he doesn't want it, he asked me if i would give him 6mil for the cheque.
No
ok ! so far, it's a no, perhaps it's better not to take the risk.
NuclearVision wrote
TheIlluminative wrote
NuclearVision wroteA question for you guys, I was offered a to buy a 3500 usd cheque for 6mil lbp, would you go for it?
Edit: the circumstances of this offer are not simple, so i didn't stumble upon a guy that offered me this, it is much more complicated, I just want your opinion about the deal.
Of course not. Just keep it with you and hopefully situation gets better. Ask yourself why someone wants really to give you 6mil for it? He will tell you "I am doing you a favor. You will lose it sooner or later" But don't do it unless you really need the money urgently.
Its the other way around, a friend wants to sell something, he got a offered a cheque for it, he doesn't want it, he asked me if i would give him 6mil for the cheque.
You can give him, 5,5 and try to sell it for 6, you earn 500,000 LBP for example.
If i knew what the worst case scenario it would be easier.
I mean would they take all our money? or would they give us 1$=1,500. If its the latter i'm willing to take the risk.
NuclearVision wroteIf i knew what the worst case scenario it would be easier.
I mean would they take all our money? or would they give us 1$=1,500. If its the latter i'm willing to take the risk.
banks would love to give you $1 = 1500. it is better to go and ask a bank yourself.
best case selling for 70% of its value on 2700 . profit = 3500 x 2700 x 0.7 - 6 000 000 = 615 000
fadel wrote
NuclearVision wroteIf i knew what the worst case scenario it would be easier.
I mean would they take all our money? or would they give us 1$=1,500. If its the latter i'm willing to take the risk.
banks would love to give you $1 = 1500. it is better to go and ask a bank yourself.
best case selling for 70% of its value on 2700 . profit = 3500 x 2700 x 0.7 - 6 000 000 = 615 000
My best case would be cashing them or half of them out in dollars.
fadel wrote
NuclearVision wroteIf i knew what the worst case scenario it would be easier.
I mean would they take all our money? or would they give us 1$=1,500. If its the latter i'm willing to take the risk.
banks would love to give you $1 = 1500. it is better to go and ask a bank yourself.
best case selling for 70% of its value on 2700 . profit = 3500 x 2700 x 0.7 - 6 000 000 = 615 000
1 - No one is buying cheques anymore even at 70% value because there's no liquid USD in the market anymore

2- His friend would have done it himself if it was possible

3- The risk outweighs the benefit. 6M LBP investment to win 200k LBP which is less than $100. Not justified

4- Just No.
I wont sell the cheque. I will put in in my empty usd account.
NuclearVision wroteI wont sell the cheque. I will put in in my empty usd account.
Which is even worse. Exchange rate at the bank will remain 1515 LBP for a very long time. BDL can't do anything about it.

3500 USD is 5,250,000 LBP.. I'm not sure what you're trying to do.



Alright man, thanks you're right, i shouldn't do this.
NuclearVision wroteA question for you guys, I was offered a to buy a 3500 usd cheque for 6mil lbp, would you go for it?
Edit: the circumstances of this offer are not simple, so i didn't stumble upon a guy that offered me this, it is much more complicated, I just want your opinion about the deal.
I recommend you to take it at 1,650 per dollar.

I would
I don't think that banks are even giving out dollars.
So my advice is only accept this until you have a good idea of what to do with this cheque, in other words how to liquidate it.
So take your time unless you feel like gambling.
Only accept this offer if you have non-cash USD payments to make
Otherwise you will only be able to withdraw the 3,500$ in LBP at 1515
You can sell the cash at ~60% value in cash USD (previously it was 70%).
Kareem wrote
fadel wrote
NuclearVision wroteIf i knew what the worst case scenario it would be easier.
I mean would they take all our money? or would they give us 1$=1,500. If its the latter i'm willing to take the risk.
banks would love to give you $1 = 1500. it is better to go and ask a bank yourself.
best case selling for 70% of its value on 2700 . profit = 3500 x 2700 x 0.7 - 6 000 000 = 615 000
1 - No one is buying cheques anymore even at 70% value because there's no liquid USD in the market anymore

2- His friend would have done it himself if it was possible

3- The risk outweighs the benefit. 6M LBP investment to win 200k LBP which is less than $100. Not justified

4- Just No.
Actually there are people I know are willing to buy cheques at 34% of its values. For example for $3,500, he will give you $2310 in cash.

$2310 x 2800 (today's rate) = 6,468,000 LBP.