Originally Posted by Copilot23
When we travel internationally we use either a CC or directly convert US dollars into local currency at a bank or AMEX office. CC's will charge the true local cost and then automatically convert at what the bank rate is for that day. When you try to exchange at a hotel or resort, you can expect variances of up to 15% at times. We've come to appreciate exchanging currency at AMEX offices. Their rates tend to mirror the bank rates and they have better hours.
Yes I agree, I never use the hotel to exchange currency unless it's my last resort.
The OP is referring to the hotel quoting the rate in USD and then converting it into local currency based on their "house" rate which is always overly inflated. This results in the rate being about 20% higher than reserved.