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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Great and prompt service
Great and prompt service, would definately use this company again.Martyn
Pleasant staff, no hassle, regular customer, no surprises.Norm.
Just what I hoped for
Quick, convenient and a good price - nothing to dislike.Mr Bowron
Good service. Lovely staffIsaac
Couldn’t be easier
Couldn’t be easier, order on line , collect on your way to the airplane,Anthony Fitton
great service would use again
great service would use againTheresa Lochinger
Easy and convenient
Very easy and simple process and good value for moneyStephen Jarman
Cash and a Travelex Money Card
We booked some cash and a Travelex money card, the transaction online and at the airport was fine. My only complaint is that I asked at the Heathrow Terminal 4 kiosk, where we picked up the money, about how to use the money card in Australia. I asked if I use the card as a debit card will I incur a fee and I was told yes but they told me if I use it at a cash point ATM there is no charge to withdraw money. Well the opposite was true and I didn't find this out until I was in the Sydney airport at the Travelex desk. Travelex need to make sure their staff give customers the correct information......all in all it was fine and i would use the service again.Nick
Finding the correct website on Google
Finding the correct website on Google is a little difficult since there seem to be a number of similar sites. Otherwise pretty good and better exchange rates than the usual suspects plus no commission.John
FIRST CLASS SERVICE
Easy to use,good rates,not the first time I have used TRAVELX and wont be the the last. THANK-YOU.PL Holmes
Good price, easy to buy and collect.Darrell B
A good reliable service
A good reliable serviceMr TERENCE JONES
Got a fair rate
Got a fair rate, quickly and my cash was delivered the following day.Iain
Fast and efficient
Fast and efficientJohn Tennent
Quicker than expected
Quicker than expected. I ordered currency on Fri am , expecting it on Mon , but it was delivered on Sat. I was wanting holiday money in 2 currencies and I was able to put it through on one order. Other companies seemed to need 2 orders and 2 sets of postage charges. I will use again.esmenicholls
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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.