Monthly Archives: December 2016


Warning: you are losing money by not using well the exchange rates

Published / by makethew / Leave a Comment

If you are sending money abroad then you automatically play with exchange rates. Being aware of how exchange rates are actually working can help you to save money and even win money. And you would see it, is not as complicated than it seems !!


  1. What is an Exchange rate ?

Because it is impossible to evaluate the exact value of a currency in an absolute terms, exchange rates allow to estimate them between each others. In clear, exchange rate give you the value of a foreign currency in comparison with one of your currency. Exchange rate allow to to compare any currency to another.

  1. Why are they changing ?

Exchange rate are regulated by a foreign exchange market. Each state decide how their currency will act compare to foreign one. They have basically two options: or be fixed meaning the rate is always the same or « free-floating » meaning that the rate change depending on the market and others criteria.

  1. Why you are losing money ?

Because exchange rate are fluctuant and can change really quickly, they impact directly international money transfers. Knowing the right moment to make a money transfer can get you save a lot of money and even win extra money. Imagine you are working in a foreign country and you change all your salary to your local currency. If you transfer your money the day where your local currency is stronger the currency which in gets pay, you can increase the amount of money you just receive.

The best way to not lose money is to know the exchange rates and wait the right time to do your international money transfer.

best exchange rate

My 2 simple steps to instantly get the best exchange rate!

Published / by makethew / Leave a Comment

The currency exchange rate is mostly the result of the supply and demand market. Some currencies don’t follow this simple rule because their government applies a fix rate. I am going to share my 2 simple steps to slways get the best exchange rate. Firstly the providers are going to be analyzed. Governments are providers for example, money transfer comparison websites as well. Sometimes for much better rates. Then  the question of where to find it has a big interest. I hope you will enjoy my answer.


Who provides exchange rate on the market?

The mid market exchange rate is officially managed by the central bank of the country ~ governments in this case. There are also currency converters in cities and airports ~ probably the most expensive ones, I hate them because they have advertisements about supposed free exchanges but they charge up to 15% hidden fees. And finally there are online money transfer services, or online trading services. The last ones are very efficient because being online allows them to drive the costs down and provides interesting rates. The best way to get excellent ones is to compare all the actors in real time. It’s quite hard. It might take hours or days. By chance there is a trustable solution. By the way the service doesn’t charge fees to the individuals. I suggest to give it a try because people pay around 6% usually whereas the lowest fees provided are around 1.5%, according to their last study.

best exchange rate


Where can i find the most interesting  exchange rate?

As stated above there are ways online and offline to find good exchange rates:

  • Western Union, Money Gram and Ria are good ways online
  • Moneytis is a excellent way to compare all online providers in real time.

Last but not least. On a comparison website there is a service called “alerts”. You receive notifications when the mid-market exchange rate has significantly changed.

More tips for your travel money at telegraph website