Reference no: EM133320285

Role playing: You are trying to buy a leather jacket from a street trader in a foreign country whose local currency is valued at 50,000 to 1 of yours. You really like the jacket, which is a good fit, well made and style. But you think the trader is asking too much. Can you negotiate an acceptable price for both of you?

1. Buyer: You have a maximum of 750,000 units of local currency and 100 units of your own. You also have your credit cards. Decide what you want to pay and the tactics you will employ making concessions. A similar jacket in your country will cost about 130 units of your currency.

2. Trader: You have sold seven of these jackets to foreigners in the last few days. The lowest price you received was 300,000 units, the best prices 800,000 units. Most foreigners did not even haggle with you. The jacket cost you 200,000 units. You know that you can buy them more cheaply with foreign currency than your own, which is shaky on the exchange market. In fact, 30 units of the Buyer's currency would buy you another jacket. You are determined however to make a good profit on this deal.