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Converting Euro to US Dollars

Vorrtexx · 2003-09-26 17:17:38

The other day I went into the Bank of Ireland to convert Euro to US Dollars. I asked for $140, and it cost be €150.94 On my receipt it said be rate was €1 = $0.92 I thought the current rate was €1 =~ $1.14 Did I get ripped off, and should I go back (again) ?

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26-09-2003 6:17pm

#1

Vorrtexx

Registered Users Posts: 541 ✭✭✭

Join Date: May 2001

Posts: 526

The other day I went into the Bank of Ireland to convert Euro to US Dollars.
I asked for $140, and it cost be €150.94

On my receipt it said be rate was €1 = $0.92

I thought the current rate was €1 =~ $1.14

Did I get ripped off, and should I go back (again) ?

0

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#2 26-09-2003 6:23pm
oneweb

Registered Users Posts: 3,135 ✭✭✭

Join Date: November 2001

Posts: 2735

AFAIK it depends on the rate used. For example there's an Interbank rate. It might be that the bank has a different rate for business users and another for personal? There's also buy rates and sell rates cash rates cheque rates and credit-card rates. And the rate changes at least daily.

Also be aware that banks charge commission for conversion.

It is what it's.

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#3 26-09-2003 8:49pm
PhilipMarlowe

Subscribers Posts: 4,419 ✭✭✭

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Posts: 4178

Yeah, thats all wrong...
It should have cost you less in euros than the dollar amount, around the €125-130 mark...
Somebody got their multiply and divide thing wrong.

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#4 27-09-2003 10:52am
Vorrtexx

Registered Users Posts: 541 ✭✭✭

Join Date: May 2001

Posts: 526

well personally that's what I thought too.

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