rather than using oanda.com, could i suggest yahoo finance? it seems to work particularly well for latam currencies as i have checked it real-time against a reuters terminal and it was right on while displaying a fairly tight market.
Originally Posted by ajnaro
The plot thickens ….
In the first place, the distance between bid and ask prices for Chilean currency is greater than for many other currencies. For July 20, oanda.com now shows 520.973/568.999 for bid/ask, a difference of over 9%. Perhaps someone more familiar with international finance could explain this for us and also tell us which rate is applicable for ATM transactions.
In the second place, for 20 July, xe.com now shows that the mid-market rate at 12 noon was USD 1 for CLP 539.150. At this rate Viajero Perpetuo’s withdrawal of CLP 107,000 would be equivalent to USD 198.46. Curiously, the amount Citibank charged Viajero Perpetuo, USD 200.46 is exactly 1.007% higher than USD 198.46. (Just as an observation, oanda.com converts CLP 107,000 to USD 205.385 at the interbank rate for 20 July)
I don’t know what to make of this. I also don’t know of any alternative that can be shown to be more favorable than Citibank. Does anyone have any experience with Commerce Bank?