National Bank of Greece ADR (fka NBGGY)

[Zareh]

0.385 dollars equals 0.31 euros.
Ete is trading at 35 euros.
So the NBGGY ADR is 12% behind.
This is mostly because the dollar is weakening. One dollar is 1.23 euros.
If you convert to ETE today you will lose 12% of your shares.
If the ADR was 44 cents today then you would not lose during the exchange to ETE.
Also, if I am not mistaken there is 1% commission to buy the ETE on the Athens Exchange.

Please tell me if I am wrong.
Thanks.