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Volvi Wrote:dont forget the media rate is not always the rate you get when you buy or sell, usually lower.
Very true Volvi. Sometimes when I send small amounts overseas ($10k to $20k) I'll use the bank TT service. When I call they tell me the current exchange rate. I then have 20 seconds to accept that rate.
If I don't accept within 20secs I am then told another rate, & the process goes on.
This is because the exchange rate is constantly changing.
The exchange rate we are told on the news etc is the latest rate available prior to the news broadcast being recoreded / aired.
By the time we actually hear the rate on the evening or morning news, the actual rate could have changed dramatically.
If I send amounts larger than $20k I use a specific money trading service. But this is only for amounts $20k to $2m.
I haven't needed to worry about any amounts over $2m yet
