Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

exchange rates?

Options
  • 09-03-2007 1:34pm
    #1
    Dyr
    Registered Users Posts: 23,246 ✭✭✭✭


    I'm not to clear on how these exchange rates work BUT

    I bought 120 sterling from a BOI branch not 10 minutes ago, they charged me 181.43 euros for this (excluding comission). On Xe.com the rate for 120 sterling is 176.29. So whats with the difference? :confused:


Comments

  • Options
    #2
    Wertz
    Closed Accounts Posts: 11,909 ✭✭✭✭Wertz


    XE.com uses the actual market rate not the consumer rate that the banks use AFAIK. I think this consumer is partly to protect them from small fluctuations in the market in the time of their day's business dealings. The figure is about 2% I think.

    I use the fx converter at oanda.com; it has a drop down option to use typical interbank rates, credit card rates, cash rates etc so you can see a more accurate or realistic exchange rate.

    http://www.oanda.com/convert/classic


  • Options
    #3
    hmmm
    Registered Users Posts: 11,205 ✭✭✭✭hmmm


    Yeah banks will add a margin on their fx rates (i.e. give you less) - if you compare rates in multiple banks you will see small differences. It is something you could "shop around" for if it was worth your while.


Advertisement