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Investments & Financial Planning

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  4. Why do the Foreign Exchange Rates that I see in newspapers seem to be better than my own bank rates ?

Why do the Foreign Exchange Rates that I see in newspapers seem to be better than my own bank rates ?

Foreign Exchange rates in the newspaper are often "wholesale" or "interbank" rates that are generally only available to large corporations. These rates are not available to smaller retail customers who want to purchase foreign currency for an foreign trip. Generally, your bank rates will be competitive with other retail bank locations.

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