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HKD 1.00 = USD Reference Mid-Rate       /
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BestExchangeRates compares the latest Foreign Exchange Rates from Banks & leading Currency Brokers to find you the best deals for your International Money Transfers. We also provide currency converter calculators, up-to-date foreign exchange research, news, charts and information on currency vendors.

Daily Currency Market Commentary
Daily currency news provided by OzForex

Treasuries fell whilst the US dollar gained overnight after the US Federal Reserve retained its pledge to keep interest rates near zero for a “considerable time”. In what proved to be one of the most highly anticipated meetings this year, policy makers stopped well short of overhauling its policy statement instead repeating its assessment that a significant amount of slack still remains within the labour market. Whilst there wasn’t a great deal new about the Fed’s stance overall investors have viewed the statement in a positive light pushing the US dollar Index to its highest point in 14 months. In other economic developments US CPI missed forecast at -0.2 percent whilst current account numbers exceeded expectation. In what’s been a tumultuous week for broader currency markets the Greenback is unsurprisingly stronger against the Yen this morning at 108.323 whilst also comfortably outpacing the Euro (1.2860).
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GBP: Retail Sales m/m, CBI Industrial Order Expectations, Scottish Independence Vote
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Why is it that when I go into a currency vendor to send money I never get the rate on the news?

You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency and there is a gap (or margin) between the price at which you buy and the price at which you sell. ⇒ read article

What makes sending money internationally so expensive?

There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers: Currency fees, Transit fees, Correspondent bank fees etc ⇒ read article

BestExchangeRates in the PressSMH.com.au Money

“A check with the foreign-exchange comparison website bestexchangerates.net shows a big variation in the exchange rates available when sending money and buying cash.” SMH.com.au ⇒ read article

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