Question about global currency exchange

Factual Questions
1

I’m not sure how to word this, and it might be full of dumb questions anyway so bear with me. Are global currency exchange rates the same for any given point in time?

I guess the base question is: Is the value of the US dollar versus the Euro versus the Chinese yuan versus the AU dollar going to be the same or are there different rates based on the trading country of origin?

For example, say I send $100 to someone in London who converts it into euros and then sends that many euros to someone in Hong Kong who then converts it into yuan. Is that going to be the same as if I sent $100 to Hong Kong myself and someone converted it to yuan?

If exchange rates are universal then how are they determined globally given all the different factions and currencys involved?

If the exchange rates vary per country of origin then what is stopping someone from chasing cash around the globe and watching it grow with every lap? Are there international laws prohibiting this?

I understand there is a nominal charge to convert currency and another for postage, but if the net rate of growth is greater then would this be a good idea?

edit: I notice the Google ads are for “Mistakes Men Make” and “The Fallacy detective - How to recognise bad reasoning”. Is Google trying to tell me something here?

2

Nothing. That’s why there are no such opportunities (at least for small traders over periods greater than a few minutes). There is arbitrage. Net of the nominal charges which you mention and difficulties in converting currency (which as it happens applies to the Chinese currency) all riskless profit opportunities are very likely to have been already taken.

3

Yep, that’s exactly what I was talking about and had no idea that such a word even existed.

Quick and easy ignorance fought, thanks,