Would you use a currency conversion rate tracking website?
2 posters
Would you use this?
Would you use a currency conversion rate tracking website?
While I was building my propane price & vendor tracking website, I thought about tracking currency exchange rates; recent conversation(s) about conversion rates got me thinking about it again.
Would you use a free website (w/ ads -- to help pay for the server, etc.) that...
computes the effective rate: e.g.,
MXN 1,300 for USD 100.00 is 13.00
adding a USD 5.00 fee reduces it to 12.38
(any MXN fee is already "in" the USD paid but not the "amount received")
compares the effective rate against some "representative/benchmark" rate for the transaction's day (or maybe even the previous business day) -- e.g.,
One site shows the 7 Oct 2014 "close" as 13.4753
(not that there's anything special or "magical" about this site -- it's just one of many)
(not that there's anything special or "magical" about the "closing" rate -- could use the "open," or average the OHLC, etc. -- as long as it's the same calculation each day)
12.38 is 91.88% of 13.4753
averages each of my methods' %ages over time and compares -- e.g.,
"Over the last year, my Visa averages 93.2%"
"Over the last year, my ATM withdrawals average 92.7%"
"Looks like I should use my Visa instead of ATM cash when I can!"
maybe even compares my methods to others' -- e.g.,
"My 'vanilla' Wells Fargo Visa averages 93.2%"
"I see that other folks' 'super shiny diamond-titanium' Amex averages 95.3%"
"I should look into getting a 'super shiny diamond-titanium' Amex!"
(again, the site would store each transaction's effective rate, and not the actual currency amounts!)
Like the propane site, it would need frequent use by & input from "enough" folks to be useful & relevant on an on-going basis (not to mention worth building!).
Would you use a free website (w/ ads -- to help pay for the server, etc.) that...
- tracks the "method" -- e.g.,
- Visa at Walmart
- ATM withdrawal at Ajijic Bancomer from Wells Fargo checking
- cash-to-cash at InterCam
- transfer from Bank of America to Santander
- etc.
Like the propane site, it would need frequent use by & input from "enough" folks to be useful & relevant on an on-going basis (not to mention worth building!).
CallMeBob- Newbie
- Posts : 14
Join date : 2014-02-05
Re: Would you use a currency conversion rate tracking website?
Personally, I wouldn't find much of a need for a site like this.
BUT, how about tracking food prices? For example, prices of whole roasting chickens at WM, Soriana, Tony's, Puritan Poultry, Chapala Mercado, Ajijic Tianguis, Chapala Tianguis. . .or Coffee prices or Tequila prices between liquor stores, or beef prices, or or. . .you could offer these places advertising and they could advertise their specials or new products. . .we could check your site before heading out to go food shopping. . .
You could do restaurants, but I think they'd run you ragged as they open and close so often.
Dunno, just thinking out loud, I know you like to do this.
BUT, how about tracking food prices? For example, prices of whole roasting chickens at WM, Soriana, Tony's, Puritan Poultry, Chapala Mercado, Ajijic Tianguis, Chapala Tianguis. . .or Coffee prices or Tequila prices between liquor stores, or beef prices, or or. . .you could offer these places advertising and they could advertise their specials or new products. . .we could check your site before heading out to go food shopping. . .
You could do restaurants, but I think they'd run you ragged as they open and close so often.
Dunno, just thinking out loud, I know you like to do this.
Trailrunner- Share Holder
- Posts : 8045
Join date : 2011-04-18
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