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BestExchangeRates compares the latest Foreign Exchange Rates from Banks & leading Currency Brokers to find you the best deals for your Overseas Transfers We also provide currency converter calculators, up-to-date foreign exchange research, news, charts and information on currency vendors. Select Type >

Daily Currency Market Commentary
Daily currency news provided by OzForex

The US dollar index which measures the strength of the Greenback against a basket of currencies continued its advance overnight reaching its highest level in 13 months after a measure of consumer confidence surpassed expectation as did a report on manufacturing. Reinforcing speculation that the US Federal Reserve may bring forward future interest rate raises, monetary policy settings are set to be greatly influenced by macro developments, developments overnight which pointed towards an accelerated recovery. With market participants not shying away from picking up US dollar dominated assets the 18 –nation Euro suffered overnight moving from a high of 1.3213 down to a low of 1.3163. Consolidating losses opening lower this morning at 1.3167 further data prints from the world’s largest economy (GDP), could well provide further support for the Greenback.  
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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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