Why does my bank rate differ from the calculator?

Banks add a spread (markup) of 1–4% to the interbank exchange rate. This is how they make money on currency exchange. Always compare your bank's rate to the mid-market rate to understand the true cost.

What is the best way to exchange currency?

For international transfers: Wise (formerly TransferWise) offers near mid-market rates. For travel: use your bank's ATM abroad rather than airport exchange kiosks, which have very poor rates.

What is the mid-market rate?

The mid-market rate is the midpoint between the buy and sell rates in global currency markets. It's the fairest benchmark rate and what you'll see on Google or XE.com. Banks and exchange bureaus charge above this rate.

Which currencies are most traded?

The most traded currencies are USD (US Dollar), EUR (Euro), JPY (Japanese Yen), GBP (British Pound), AUD (Australian Dollar), CAD (Canadian Dollar), CHF (Swiss Franc), and CNY (Chinese Yuan).

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