Word: deake
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...lives in a Scarsdale mansion in stead of a London flat, and never ever packs a shoulder-bolstered Walther PPK automatic. But there is more than a soupçon of the fictional counterspy in trim, urbane Nicholas Deak, who is the James Bond of the world of money...
Born in Hungary 58 years ago, Deak holds a doctorate in economics, can talk money in five languages, used to work for the League of Nations. A naturalized American, he spent World War II as an OSS agent parachuting into Burmese jungles to search for Japanese prisoners. On a postwar assignment, he sneaked Hungarian boxcars past the Russian occupiers to help rebuild West Germany's railways. Deak still keeps in OSS trim with a vegetarian diet, daily sprints around his own suburban running track, and ski trips with his Viennese wife. From a paneled office (cable address: Deaknick) overlooking...
Gamble on Change. Last week lines of tourists bought up pounds, francs and yen from Deak's Perera Co., busiest currency exchange in the U.S. and only one of Deak's skein of 20 currency "stores." The tourist trade is a small part of Deak's business; his plumpest profits come from the active shufflings of currencies in crisis. "Whenever countries are not stable," says Deak, "their currencies are heavily traded." Currency speculators and companies operating in inflation-ridden countries such as Brazil or Italy try to conserve the value of their cash by buying or selling...
...biggest peacetime exodus from the U.S. to Europe was reaching its peak last week, there came some dollar-saving advice for the 1,250,000 tourists who will spend $2 billion abroad this year. Nicholas Deak, who heads Manhattan's Deak & Co. and Perera Co. foreign-exchange companies, said that travelers could save millions by buying their foreign currency on the U.S. free market before they leave. As it is, most travelers buy their lire, pesetas and francs abroad, where currency is often pegged at unrealistically high official rates. Travelers can beat the official rate by trading...
...Deak figures that the best bargain in New York is in currencies of countries that have no import limits, although their official rates stand much higher than the free rate. Among these are France's franc (which was selling in the U.S. last week at 395 to the dollar, v. 350 in Paris), Bolivia's boliviano (5,5°° ". 190), Argentina's peso. Even where limits exist-as in Spain, Finland, Turkey-tourists can take in the legal amount and still make a saving. Where money is stable and the saving small, travelers still find...