Why do currency exchange rates fluctuate?
Currencies constantly move up and down against each other as financial markets change. These movements can be caused by supply and demand, as well as by political and economic events.
Why are tourist money exchange rates not the same as the market spot rate?
The market (or spot) exchange rate, is the rate at which banks exchange currencies. There are a lot of processes and people involved in providing currency into your hands. There is a cost to doing this, which means that the value of the currency is affected to cover all of said cost.
At Travelex, we constantly improve our systems and processes so we can provide you with great currency exchange rates.
Does it pay to shop around and compare rates?
There are a lot of foreign currency providers in the US, offering you a range of products and services. With so much choice, it means that you can spend a lot of time to find the best exchange rate in the market. With our Online Price Promise, we promise to give you the lowest online price for foreign currency in the U.S. If you find a lower exchange rate, we’ll match it.
Want to know more about the currency exchange market? Take a look at our guide.