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Thread: Euro Convert
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Old Aug 4, 2006 | 12:32 pm
  #8  
iff
 
Join Date: Jan 2002
Posts: 2,335
Originally Posted by kasop
The local travelex can buy them from me for $1.17 but the real time exchnage rate is $1.28 so I loose $0.11 per euro, anyone have any idea where I can get a better exchnage rate?
The $1.28 exchange rate you see is the interbank rate, which you as an individual will never get. The best rate you could get in a transaction (certain credit cards, for example) would be about 2.5 to 3 cents less (interbank +1%). Cash exchanges have an even lower exchange rate than that; Oanda lists the typical cash rate as interbank +4%.

As others have mentioned, your best bet would be to find someone who needs euros and make a deal.

If all else fails, you can just remind yourself that it was an unexpected gift and accept whatever amount you get as a nice little sum you didn't have before.
iff is offline