About this web site
This site was created to save you money by allowing you to easily compare the current foreign exchange rates at various banks. Simply choosing to exchange money at the bank with the best rate can save you a substantial amount, especially if you convert a large amount and especially when converting from some currencies such as the Korean Won (KRW), Chinese Yuan (CNY) and Indian Rupee (INR).
A secondary goal is to increase competition amongst the banks such that the exchange rates will improve for everyone.
The rates are checked every 10 minutes, so you can see which banks have the highest rates at any particular time of day.
These are the actual rates that you'd get if you were to exchange currency at the bank, and would be different to the interbank currency market exchange rates that you'd find on other sites.
These retail rates are more relevant to travelers, foreigners or small to medium sized businesses who need to convert relatively small amounts of money (usually in the form of physical
notes or electronically through an ATM), whereas interbank exchange rates are more relevant to financial market professionals who trade currencies in large volume for profit or hedging.