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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (2290)	12/9/1999 1:49:00 PM
From: E	Read Replies (1) \| Respond to of 3536

OT: I apologize for the interruption, but I need help with a personal currency-related problem, and I'm sure there are people here who would know the answer to my question, or will have advice for me. I have to tell a brief story so this will make sense. I support an indigent man in Lesotho, Africa. Until recently, I sent this man, Jacob, monthly travelers' cheques. But his bank (which is in a remote area of Lesotho, a place called Qacha's Nek, Tsoelike, far from the capital, Maseru) has begun refusing USD travelers' cheques. With the personal help of a kind woman who works at the Lesotho mission to the U.N., who appealed to her sister in Lesotho, I have managed to send him $125. worth of Lesotho loti, in cash, via postal money order (it was sent to Jacob from Maseru by this woman's sister.) With these loti, I have instructed him to open a bank account and send me the information necessary for my bank to arrange a monthly electronic transfer of funds. I just now received a letter from Jacob (written before I had sent the $125 check to the helpful woman) saying that the minimum required to open an account at the bank is 500 loti. I have no idea whether 125 USD is enough to purchase 500 Lesotho loti. And I'm very concerned, because the assistance given me was quite inconvenient to the U.N. Mission woman and her sister, and was a favor I can ask only once. Can anyone tell me how many loti 125 USD buys? Here is a url that I think probably contains the answer, but I can't figure it out, being math-impaired. accu-rate.ca I would appreciate some help. And if 125 USD isn't enough to purchase 500 loti, does anyone have another suggestion for how to transfer funds to Jacob? I am thinking that the bank might accept travelers' cheques in South African rand. Does anyone know a way of purchasing rand travelers' cheques over the net? Sorry, really, to intrude.