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Is Some Speculting

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I send dollars to Thailand every month via electronic transfer. The process is quick and will usually not take longer than a day. However, the last time I sent money, it took five days for the money to arrive in my Thai bank accoount.

The exchange rate five days ago was 33.52 and fell to 33.4. Not a very big difference I know but when you talk big figures, it will make a big difference.

Where was it? Who had it? What happened to it?

The bank put it into a short term money market account to take advantage of the difference in exchange rates.

Not significantly noticeable to your transfer but when they hold millions of $$ in the same way at the same time they can make a few bob.

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