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INR 1.00 = USD Mid-Rate       /
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.
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Daily Currency Market Commentary
Daily currency news provided by OzForex

With a bank holiday for Labour Day in the US market movements were anticipated to be dull and as expected most currencies traded in a fairly tight range. The Euro opens this morning flat against the US dollar however sentiment towards the down side is prevalent given the growing worries over the Ukraine crisis and the impending possibility of quantitative easing being implemented by the European Central Bank. The situation in the Ukraine appears to be dragging on and there are talks over further sanctions being placed on Russia by the EU. Putting additional pressure on an already struggling Euro, Russia is one of their largest trading partners. In European trade, another poor release overnight showed the manufacturing sector is struggling, specifically in two power houses, Spain and Italy. These numbers are important given the Eurozone is on the cusp of implementing additional stimulus measures to try and give their economy a boost towards recovery and they could help give investors clues as to a timeframe. With the US markets opening this morning all eyes will turn to the Manufacturing numbers released to give direction for the week to come.
Data releases:
Building Approvals m/m, Current Account, Cash Rate, RBA Rate Statement
ANZ Commodity Prices m/m
Monetary Base y/y, Average Cash Earnings y/y, 10-y Bond Auction
Construction PMI
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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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