>Broadly though, a brokerage that supports FOREX will let you short currencies and potentially buy call or put options on the given currency pair.
That might work if you're trading euros or japanese yen, but can you do it for egyptian pounds? For instance, IBKR does a bunch of currencies but not EGP
Wise will let you convert from USD to EGP, but not the other way around.
>Don’t be so quick to be dismissive. It’s something for curious local Egyptians to evaluate and consider.
Why do you think the "black market rate" exists in the first place then? If you can really walk in a bank and get $1 USD for 31 egyptian pounds no questions asked, why would there even be a black market where people are asking for 40 egyptian pounds for the same dollar?
That might work if you're trading euros or japanese yen, but can you do it for egyptian pounds? For instance, IBKR does a bunch of currencies but not EGP
https://www.interactivebrokers.com/en/trading/products-spot-...
Wise will let you convert from USD to EGP, but not the other way around.
>Don’t be so quick to be dismissive. It’s something for curious local Egyptians to evaluate and consider.
Why do you think the "black market rate" exists in the first place then? If you can really walk in a bank and get $1 USD for 31 egyptian pounds no questions asked, why would there even be a black market where people are asking for 40 egyptian pounds for the same dollar?