Originally posted by
56kicks at 30-10-2009 09:54
I think
www.xe.com is reliable because currency traders use it too...that's gotta account for something!
Online FX tools like Xe.com and Yahoo Finance are used by FX traders because the rate reflected
is the up to date market rate and that would also be the rate that they would trade in.
Whereas for us who do FX not for investment or trading, the rates given by these online
websites do not indicate the commission fees that each bank/money changer would charge
for changing your money.
So these tools would be useful to give you a good idea of what the base rate should be
and when you go out to change your money, you can tell how much a moneychanger is
charging for commission just by checking out the rate that the shop is offering.