Real-Life Communication
Verbal communication skills are important for a currency exchange
broker. Much of the time on the job is spent on the telephone with clients.
Broker
Jean Klimchuk says self-confidence and presentation skills are of paramount
importance.
"A currency broker must know how to present himself," he
says. "Customer relations are very important."
You are a currency broker.
A client who is planning a trip to Europe comes to see you. She's elderly
and has never traveled overseas before. She wants to know more about foreign
exchange.
Below is an explanation of foreign exchange. Explain in writing
what it means, using simple language that your client will be able to understand:
Foreign
exchange, currency and money claims, such as bank balances and bank drafts,
are expressed in the equivalent value in foreign money. Thus, a pound sterling
note is money in Great Britain, but is foreign exchange in America. A deposit
of $1,000 done in an American bank to the account of a French company constitutes
that amount of foreign exchange in France.
The term foreign exchange
is also used to refer to transactions involving the conversion of money of
one country into that of another, or to the international transfer of money
and credit instruments.
The use of foreign exchange arises because
different nations have different monetary units, and the currency of one country
cannot be used for making payments in another country; it becomes necessary
to convert money into the currency of other countries in order to pay for
goods or services in those countries.