The maning of the phrase - "Including three pt. nine nine percent over whole sale rate" I've come across a phrase in the receipt where there was the currency exchange - "Including three pt. nine nine percent over whole sale rate" Could you explain what exactly it means? Or write the translation into Russian if there's a possibility :)
Aug 2, 2019 11:28 AM
Answers · 5
This is what I think it means. I'm not 100% sure because it is a question of finance as well as English. 1) A "wholesale" rate or price is the amount paid by big institutions buying in large quantities. The opposite of "wholesale" is "retail." "Retail" is the amount paid by ordinary individuals like you or me. 2) Let's say you buy an item on the Internet. Let's say that the item is priced at USD $100. Let's say that the "official" exchange rate you see, for example in a Google search, is exactly 65.00 rubles per dollar. This could be the rate for the largest and best customers--the "wholesale" rate. A Russian bank that wants to buy USD $1,000,000 in currency might pay RUB ₽ 65,000,000. 3) You might wish that you could get the wholesale rate. You might hope that you can buy a USD $100 item and only pay 65.00 x 100 = RUB ₽6,500. The company lets you buy the item using rubles, which is convenient. However, it charges you a higher rate than 65.00 RUB/USD for the conversion. 4) They don't charge you just RUB ₽6,500. They charge you RUB ₽6,500 + 3.99% = RUB ₽6,759.35. 5) Another way to say this is that they didn't give you the 65.00 RUB/USD "wholesale" rate. They give you an exchange rate 65 + 3.99% = 67.5935 RUB/USD. Therefore, you pay RUB ₽6759.35 6) They explain the charge on the receipt. They "disclose" what they are doing. (To "disclose" means "to show something instead of keeping it secret." They disclose that they are charging you an extra 3.99% over the official exchange rate, to convert the currency.
August 3, 2019
It means that where was an additional fee $ of 3.99% added to the wholesale cost not the retail cost of the item purchased. The wholesale cost of an item is usually 50% less than the retail cost.
August 2, 2019
(Accidental duplicate)
August 2, 2019
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