How can I see currency exchange rates?
- By
- Aparna Patel
- |
- 7 Aug, 2023
- |
Forget the web sites, forget all the other useless answers here. The only rate you need to be concerned with are the rates at the place where you will actually exchange your cash.
All the web sites provide the spot rate on the international FX market. It will not be an accurate reflection of what the rate is “on the street”. On top of that, many exchange bureaus charge straight-up fees. So they make money on both the exchange itself (by having you pay more than spot rate) and then they tack on a fee.
Your concern right now should be to compare places by fee and try to get the best deal out there.
As Mark says, London uses pounds so no need for Euros. However, if you’re transiting through a EU destination (such as Amsterdam or Frankfurt) a few Euros may be useful (although you can pay via card).
For the base rate I always just use Google, enter “30 dollars in british pounds” etc in the search box (or “30USD in GBP” if you know the currency symbols — Euro is EUR).
But how much you’ll get from an actual shop will vary. A lot. So you want to check out the place you’re actually going to change money. If you plan to change cash in London then you could start at TravelEx who have, probably, the biggest presence. But beware, there are money changers (particularly in tourist spots) who will give a much worse exchange rate.
If you want to change money before you go then start with your bank, and compare other local exchanges to see how the vary from the base amount (watch out for commission and fees).
Personally, I just use plastic (debit and credit) when abroad. Either pay for things on it or withdraw cash. If you want to do this make sure your card is enabled for the country you’ll be in (phone the issuer and check) and also check what the costs are. Typically you’ll get money at the base exchange rate and they’ll maybe charge a flat fee + a %. Depending on the card issuer this is sometimes better than you’ll get at exchange places and at least you’ll be able to work it out in advance. Also check which cash machines (ATMs) will work, and if they’ll charge their own fee.
Finally, if you have a smartphone, and you really want to keep things in check, I recommend downloading a currency conversion app.
there are a lot of tools for that in the Internet, moreover, most of the official sites of the countries you are visiting usually have a link to them too among a lot of useful information.
Anyway, I often use http://currencyconverter.io, you can convert almost any currency, and it is really simple and easy to use. You can also see there how many pounds or euros you get from your dolars.
Hope you have a nice trip!
Well you go to a handy currency conversion website, like XE.com.
London doesn’t use Euros; while the United Kingdom has joined the European Union, they’ve decided to keep their currency – the British Pound. So if you’re just going to London, all you need is Pounds.
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