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Buying Sterling

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  • 20-02-2008 7:49pm
    #1
    Ronanom
    Closed Accounts Posts: 407 ✭✭


    Does anybody know if there is usually much difference in exchange rates between different banks? I was told the exchange rate for euro to gbp was 0.74 and it's 0.756 on www.xe.com


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    #2
    Bluetonic
    Registered Users Posts: 7,588 ✭✭✭Bluetonic


    Would have thought you'd be lucky to sell EUR/GBP at 0.74 when the spot rate is 0.756.

    If the bank bought and sold at 0.756 they wouldn't make any money.

    Rates of course differ from bank to bank but their difference is insignificant unless exchanging large amounts.

    Ringing a few of them will show your their difference.


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    #3
    Ronanom
    Closed Accounts Posts: 407 ✭✭Ronanom


    Bluetonic wrote: »
    Would have thought you'd be lucky to sell EUR/GBP at 0.74 when the spot rate is 0.756.

    If the bank bought and sold at 0.756 they wouldn't make any money.

    Rates of course differ from bank to bank but their difference is insignificant unless exchanging large amounts.

    Ringing a few of them will show your their difference.

    Well i'm looking to buy a car over in the uk so it's quite an amount when considering over £5k

    Thing is for that amount a bank will only change over currency as long as you have a bank account with them


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