📊 Why do the exchange rates on various converters and information resources (such as GOOGLE) differ from the actual rates at currency exchange offices?
1. 📉 Informational rates and exchange office rates are different concepts:
- 🔵 Informational services provide official, market, and interbank rates. These are the basis for large financial institutions, representing the values they take as a reference for further actions (such as transactions, conversions, and calculations).
- ⚫ Exchange offices are at the lower end of the financial chain, dealing in much smaller volumes and shorter timelines, so their rates are inherently different from the "benchmark" figures mentioned above.
2. ⏰ Data updates:
- 🔵 Informational services update their rates at varying frequencies, ranging from near real-time to several hours or days, which may not accurately reflect the current market situation.
- ⚫ Exchange offices use real market data that can often be ahead of informational services in highly volatile conditions.
3. 💰 Commissions, margins, and additional fees:
- 🔵 Informational services provide rates without considering these factors (a basic truth, but a fact).
- ⚫ Exchange offices are commercial organizations that set exchange rates including various costs, profits, and volatility risks. The rates at exchange offices often include commissions and fees, which allow them to earn on the difference between buying and selling currency.
4. 🌍 Local and regional differences:
- ⚫ Exchange office rates depend on location, time of day, weekends, and many other factors. These factors can include higher rent, taxes, fees, staff salaries, and possible additional profits, such as those in airports.
5. 🔍 Additional factors:
- ⚫ There are many other factors influencing exchange rates at real exchange offices, explaining why they differ from the rates provided by informational resources. Detailing all of these nuances would take up many pages and bore most readers, so we'll stick to the main points.
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