About this web site
This site was created to save you money by allowing
you to easily compare the current foreign exchange
rates at various banks. Simply choosing to exchange
money at the bank with the best rate can
save you a substantial amount,
especially if you convert a large amount and
especially when converting from some
currencies such as the Korean Won (KRW),
Chinese Yuan (CNY) and Indian Rupee (INR).
A secondary goal is to increase competition amongst
the banks such that the exchange rates will improve
for everyone.
The rates are checked every 10 minutes, so you can
see which banks have the highest rates at any
particular time of day.
These are the actual rates that you'd get if you
were to exchange currency at the bank, and would be
different to the interbank currency market exchange
rates that you'd find on other sites.
These retail rates are more relevant to travelers,
foreigners or small to medium sized businesses who
need to convert relatively small amounts of money
(usually in the form of physical
notes or electronically through an ATM), whereas
interbank exchange rates are more relevant to
financial market professionals who trade currencies
in large volume for profit or hedging.
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