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Cheap sterling
CHEAP STERLING

Definition: Sterling held in the U.K. by non-residents, sold below the official rate of exchange.
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* All eight elements would be in.


1. Purposeful and necessary for holders-cum-sellers.

2. Source(s) of acquisition will be legal or lawful.

3. Bargaining takes place before disposal of Pounds.

4. Sold and bought, as agreed by sellers and buyers.

5. The timing of a transaction benefits the sellers.

6. Exchange rate, whatever amount, achieves goal(s).

7. Loss arising from lower rates will be condonable.

8. No documentation will be issued in the situation.
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See perfect TOURIST (1).

See perfect EMERGENCY (1).
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See perfect CITY (5).
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See perfect HARD CURRENCY.

See perfect BLACK MARKET.

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