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Exchange Rates

  • 09-02-2022 8:06pm
    #1
    John.G
    Registered Users, Registered Users 2 Posts: 3,542 ✭✭✭


    Always a bit curious re banks buying and selling foreign currency. For example if you look up (or walk into a AIB Bank) you will see.....

    Currency, say GBP, we sell, 0.831. we buy, 0.854. If you require GBP100 then it will cost you, 100/0.831, Euro120.34. and if you sell (AIB "buy") GBP100 you will get 100/.854, Euro117.1.Often wonder why the don't display the "buy" as 1.171??.

    Post edited by John.G on


Comments

  • #2
    Geuze
    Registered Users, Registered Users 2 Posts: 13,592 ✭✭✭✭Geuze


    We tend to write exchange rates with our currency as one unit.

    By this I mean, write as: EUR 1 = xxx



  • #3
    John.G
    Registered Users, Registered Users 2 Posts: 3,542 ✭✭✭John.G


    Looks that way allright.



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