The explanation from two places that exchanged currency is that the rates you see on websites like xe.com are the rates when banks trade millions of dollars, and actual consumer-level rates are different. Is this true?
2007-12-07 12:48:13 · 5 answers · asked by iamthejake2000 1 in Social Science ➔ Economics
I know the exchange rate is different, I'm specifically asking if it's true that the bank rate is different from the consumer-level rate.
2007-12-07 12:59:15 · update #1
In my experience ATM's and credit cards give you the best exchange rates (close enough to bank rates that I never noticed the difference), and money changers at airports give the worst. You were ripped of unless it was a small amount of left over currency as you returned. Then you have to pay the higher rates to get rid of the change.
http://www.flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange
2007-12-07 13:06:25 · answer #1 · answered by meg 7 · 0⤊ 0⤋
There are what's called forex exchanges in important cities. look interior the yellow pages. and there is often ones at Airports that fly overseas. I flew to Canada and exchange my money magnificent on the Airport till now I departed, and did an identical element as quickly as I arrived back interior the states.
2016-11-14 00:51:14 · answer #2 · answered by lizarraga 4 · 0⤊ 0⤋
The current exchange rate is 1 Euro = 1.4601 U.S. dollars.
It looks like you got a bad deal.
2007-12-07 12:55:00 · answer #3 · answered by vrkbarracuda 2 · 0⤊ 0⤋
It's gonna get worse before it gets better.
2007-12-07 13:20:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yep. At month-end, it was around 1.47
2007-12-07 12:55:45 · answer #5 · answered by Bosco 5 · 0⤊ 0⤋