In everyday life this corresponds to the difference between wholesale and retail prices. It is not a tourist rate and you cannot buy currency at this rate, as most travellers only need to purchase relatively small amounts of foreign currency. In business it is sometimes called the 'spot rate' or ‘FX spot’. Spot price – more formally known as the ‘interbank rate’, this is the exchange rate that banks charge each other or major financial institutions when they trade large amounts of foreign currency. Holiday rate or tourists rate – another term for a sales rate. For example, if you returned from America with American dollars, we would exchange your dollars against the purchase price in euros. Purchase rate – this is the rate that we buy back travellers’ foreign currency and exchange it to the local currency. For example, if you were going to Canada, the selling rate would be the rate that we would sell you Canadian dollars. Selling rates – this is the price that we sell foreign currency in the local currency. In this guide we explain everything you need to know and look for when dealing with foreign currency exchange rates. To help you get to grips with the essentials we have created this useful manual. W e feel responsible for making the process of obtaining foreign money convenient and easy for all of our customers. This is certainly the case if you need to deal with unknown terms and phrases. Exchanging money is complicated at the best of times, but if you need to travel urgently or are already abroad, it can be especially difficult to arrange your foreign currency exchange. Understanding foreign exchange ratesĪs the largest supplier of foreign money in the world, we understand that currency exchange can be quite confusing. For uncommon currencies where there is less demand, the ordering process may take a little longer. If you can’t find your desired currency on the list, please contact a GWK Travelex branch in your area. If you aren’t sure about any of the terms, please consult our handy guide below to see what you should pay attention to when converting foreign currencies. The table is not intended for transactions involving foreign currencies converted into euros. This exchange rate may differ at various GWK Travelex stores. In the exchange rate table you can find both the exchange of euros to your desired foreign currency, as well as the exchange rate if you would like a Cash Passport. Note: The above currency conversion rate table provides an overview of the exchange rates for foreign currency specifically ordered online. The currency calculator also enables you to quickly see how much foreign currency you should buy for the amount you want to change in euros. The table can easily convert currencies based on the latest updated rates. The currency conversion rate table shows the current exchange rates, but you can also look back on the history of a specific currency.
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