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Foreign currency is the ultimate commodity: the euros or dollars you get cheap from a backstreet bureau de change are worth exactly the same as the notes you might buy, expensively, at your high ...
The Post Office noted the success and profitability, and it took over the system in 1838. Fees were further reduced and usage increased further, making the money order system reasonably profitable. The only draw-back was the need to send an advance to the paying post office before payment could be tendered to the recipient of the order.
By 1865 there were 416 post offices designated as money order offices that had issued money orders to the value of over $1.3 million and by 1882 they had issued orders valued at $113.4 million from 5,491 money order offices.
Britain's Royal Mail also stopped selling IRCs on 31 December 2011, citing minimal sales and claiming that the average post office sold less than one IRC per year. IRCs purchased in foreign countries may be used in the United States toward the purchase of postage stamps and embossed stamped envelopes at the current one-ounce First Class ...
In the retail currency exchange market, different buying and selling rates will be quoted by money dealers. Most trades are to or from the local currency. The buying rate is the rate at which money dealers will buy foreign currency, and the selling rate is the rate at which they will sell that currency.
For example, a UK bureau may sell €1.40 for £1 but buy €1.60 for £1. Quite often the terms "buy" and "sell" are used the other way round by a bureau de change, and the buy rate may seem higher that the sell rate: in such cases, it means "we buy/sell our local currency at the rate shown" (examples from Google Images).
The UN Post Offices in Geneva and Vienna began offering this type of sheet in 2009. Two sheets were produced in 2007 and two in 2008 denominated in Euros. The editors of the Scott Catalog question whether they were ever actually sold at the UN Post Office in Vienna, a primary criterion for recognizing them as a legitimate postal issue. The ...
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