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Investing Money Abroad Case Study

A Cambridge-based rug manufacturer was investing $1,000,000 in a manufacturing plant in China. They needed to make payment on the 18 May 2009. They obtained an exchange rate from World First and then their bank to make a comparison.

	Retail Bank	World First
Exchange Rate	1.4815	1.5060
Transfer Fee	£15	£0
Total Cost	£674,991	£664,010
Total Saving		£10,981

The substantial saving compared with their bank meant they used World First for the transaction.