It takes money to make money

How you can gain a sizable return from currency trading

by Donald Jay Korn Posted: June 1, 1999

be doing just the opposite.”

  • Pay attention and protect yourself. “You need to monitor your trading activity regularly,” says Raphael. On nights and weekends (including holiday weekends), currency trading goes on around the world.

    • The Risky World of Currency Trading

    To give you an idea of the shifting currency rates that traders have to analyze on a daily basis, BE calculated the exchange rates between the U.S. dollar, Japanese yen, Brazilian real and the euro andother major world currencies.

    Value of Currency per Unit of

    Currency

    Symbol

    U.S.dollar

    Japanese yen

    Brazilian real

    Euro
    Australian dollar

    AUD

    1.5896

    0.0135

    0.8606

    1.7445
    Belgian franc*

    BEF

    36.7562

    0.3130

    19.9005

    40.3399
    British pound

    GBP

    0.6136

    0.0052

    0.3322

    0.6735
    Canadian dollar

    CAD

    1.5182

    0.0129

    0.8217

    1.6655
    Danish krone

    DKK

    6.7755

    0.0577

    3.6691

    7.4375
    Dutch guilder*

    NLG

    2.0079

    0.0171

    1.0873

    2.2040
    Euro

    EUR

    0.9112

    0.0078

    0.4933

    1.00
    French franc*

    FRF

    5.9768

    0.0509

    3.2365

    6.5607
    German mark*

    DEM

    1.7821

    0.0152

    0
    .9650

    1.9562
    Italian lira

    ITL

    1764.2551

    15.0247

    955.3611

    1936.5904
    Japanese yen

    JPY

    117.445

    1.00

    63.5859

    128.8936
    Swiss franc

    CHF

    1.4575

    0.0124

    0.7890

    1.5994
    United States dollar

    USD

    1.00

    0.0085

    0.5413

    1.0972
    *The currencies have been fixed against the euro
    As of 3/18/99
    Source: Bloomberg.com and blackenterprise.com
    Pages: 1 2
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