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INR 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

The US dollar fell from a 14-month high overnight when valued against a basket of major currencies after figures showed industrial production unexpectedly fell in August. With Output declining for the first time in seven months the median forecast had predicted a rise of 0.4 percent not a decline of 0.1. In what’s likely to be bumpy a week for broader currency markets heightened price activity is expected either side of the Federal Open Market Committees two day meeting which commences tomorrow evening.  Given markets will be closely listening for any revamped language surrounding the path to higher rates, already there has been signs of heightened tension as investors fear an early exit from the stimulus game. With the market treading water for the time being there remains a raft of broader economic indicators due for release this evening which promises to provide further volatility. Opening stronger against the Yen at 107.161 the Greenback is weaker against the Euro at 1.2937.
Data releases
Monetary Policy Minutes
NZD: No data today
BOJ Gov Kuroda Speaks
GBP: CPI y/y, PPI Input m/m, RPI y/y
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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 Money

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

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