Today’s exchange rates
Whether you’re looking to convert your pounds to dollars, euros or any other currency, simply choose the currency you need below to see our rates of the day.
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I had a small balance in a currency…
I had a small balance in a currency which I did not want for my recent holiday. I thus changed to the currency of the latter which left me with an odd amount (in dollars and cents) which I would never be able to withdraw (as ATM's dispense only high value notes). I was able to buy a top up in an odd amount to make my balance a round one! Problem solved. And use of the card - in this case in Canada - was as ever very easy. The only downsides were that most ATM's charged for use but free ones were available - but had to be sought. The worst aspect was that during our holiday the pound strengthened quite a lot (almost 10 cents) compared with the Travelex rate at the time I bought Canadian dollars!!Geoffrey Hall
Efficient professional service
Efficient professional servicedonkirk
Convenient and speedy
Convenient and speedy. Not, however, the best rate of exchange.John, London
ATMs in Greece
Very pleased to get a refund after being deceived by a Greek ATM with confusing instructions for withdrawing euros from my Travelex card. Also very pleased to be advised about how to avoid this in future - and the advice worked.Richard and Jane
This was honestly a stress saver
This was honestly a stress saver! I was travelling to Japan but wasn't aware that I had to preorder my Japenese Yen and there were no shops open which had the amount of Yen that I wanted to exchange. After a quick search, I found that Travelex did last minute airport delivery, which was perfect for me as I was travelling on Monday morning and it was late early Saturday evening at this point. The rates were also one of the most favourable which I had found, which was a bonus as I didn't feel like I was losing money, or as much money as I would have lost if I had exchanged money at the airport. These were the benefits, the only drawbacks were that it took a while for my confirmation email to come through which would not have been an issue if I didnt need the money for the actual day that I placed the order for, but it finally came through late Saturday night which was fine, but may have posed an issue if they had told me that they couldn't fulfil my order. Other than that, the lady who served me would have benefitted in some customer service training. It wasn't that she was rude, but rather that she just didn't seem to care - she was more focused on the conversation she was having with a colleague than she was me, and looked quite annoyed that I had disrupted this very important conversation. Other than that, all was great and I would most definitely recommend Travelex for last-minute currency orders!Elina
Although it took some time to…
Although it took some time to eventually get the money card I had ordered it was easy.customer
Used then before
Used then before, good exchange rate offered and very fast delivery, well worth usingMaurice Ling
As usual this was efficient and prompt.
As usual this was efficient and prompt.Ms M Whitfield
Very efficient service and reasonable…
Very efficient service and reasonable rates.Diane Garvey
Fast and easy to use
Fast and easy to useNicole
Quick, efficient and friendly service.Hayley
Straightforward, online order then collect
Really straightforward (I picked up from the airport before security). Scattily I left ordering to the last minute and this was one of the few places able to take my order as I didn't want the expensive rates at the airport (Chinese Renminbi and Indonesian Rupiah) and it was ready two days after ordering. The only issue was that Vietnamese Dong was not available to buy.Sarah
Good exchange rates
Good exchange rates, easy to use website. Straight forward when picking up currency from airport Travelex desk. Will definitely use again, although my local Tesco now has a Travelex desk, so I may give that a try.Elaine
Very reasonably priced insurance.
Very reasonably priced insurance.DG
Online order for home delivery
I ordered currency online and had it delivered to my home. All went smoothly as usual. The only annoying thing was that you now have to order £600 worth to get free delivery whereas it used to be £500.Mr Edwards
Travelex Wire: Low cost money transfer from the experts
Travelex Wire is our brand new money transfer service from Travelex directly, offering a low-cost way of sending money internationally.
With Travelex Wire, simply set up your money transfer online, with fees from as little as £3^.Find out more
How to calculate exchange rates
Exchange rates are influenced by banks and trading institutions and the volume of currency they are buying and selling at any given time. Currencies are traded (bought and sold) daily around the world.
One currency can be purchased by another currency through banking institutions or on the open market. The volumes of currencies traded are increased and decreased depending on the attractiveness of any particular currency, which depends on a multitude of factors such as political stability, economic strength, government debt and fiscal policy among others.
Government central banks also have the ability to set a currency at a constant price through a method called pegging, which essentially tethers the value of one currency to another. The value (or price) of a currency is determined by its traded volume. If a currency is competitively priced, traders will buy the currency, essentially driving up its value. If a currency is not competitively priced, traders may avoid buying, or even sell it, essentially driving down its value.
How to read exchange rates - currency jargon explained
Foreign exchange can be confusing, so to help break through the confusion, here are some common terms associated with currency:
- Buy rate – This is the rate at which we buy foreign currency back from you into your local currency. For example, if you were returning from America, we would exchange your US dollars back into British pounds at the buy rate of the day.
- Commission – This is a common fee that foreign exchange providers charge for exchanging one currency with another.
- Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.
- Currency Pair - This the the relationship between two country's currencies. It is often denoted like this: GBP/USD, EUR/JAP, AUD/INR
- Holiday money rate or tourist rate – This is another term for a sell rate.
- Sell rate – This is the rate at which we sell foreign currency in exchange for local currency. For example, if you were heading to Europe, you would exchange British pounds for euros at the sell rate.
- Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate
- Spread – This is the difference between the buy and sell rates offered by a foreign exchange provider such as us.
Exchange Rates FAQ's
Why do currency exchange rates fluctuate?
Currencies constantly move up and down against each other as financial markets change. These movements can be caused by supply and demand, as well as by political and economic events.
Why are tourist money exchange rates not the same as the market spot rate?
The market (or spot) exchange rate, is the rate at which banks exchange currencies. There are a lot of processes and people involved in providing currency into your hands. There is a cost to doing this, which means that the value of the currency is affected to cover all of said cost.
At Travelex, we work to provide you with the best value on your foreign currency as possible. We are constantly striving to improve our systems and processes to make them more efficient, meaning that you get the best value for your travel money exchange rates from us.
Find out more on spot rates and tourist rates here.
Does it pay to shop around and compare rates?
There are a lot of foreign currency providers in the UK, offering you a range of products and services. With so much choice, it means that you can spend time to find the best exchange rate in the market. However, there is usually very little difference; it can be just a matter of pence.
*We compared the average cost of sending money abroad from the UK with Travelex Wire – in euros or US dollars across a range of values – against the average costs of sending equivalent sums abroad using the online services of leading money transfer providers in the UK. The price data used for the purpose of this analysis was obtained via online research between 1st June 2017 and 30th June 2017. Find out more here.