Currency rates

Official rate versus market rate

Some countries publish a central bank rate alongside the rate people actually transact at. The two do not always match, and the wider the gap grows the more pressure the currency is under. The rates shown here track the market rate, because that is the one that matters to someone about to exchange money.

Buy rate and sell rate

Anyone who exchanges currency quotes two rates: one they buy from you at and one they sell to you at. The spread between them is their profit. That is why exchanging an amount and immediately exchanging it back leaves you slightly down even if the market never moved. The spread is widest at airports and hotels, and narrowest at banks.

Why the rate differs by location

There is no single rate for a whole country. A bank quotes one rate, an exchange house quotes another, and international transfers carry their own rate plus a fee. These differences are normal and reflect each channel's cost and volume. When comparing, compare the final amount that reaches you after fees, not the number on the sign.