Mid-Market Rate vs Bank Rate
The rate you see on exchange-rate.live is a mid-market (interbank-style) rate. The rate your bank or currency provider offers is often different—here's why.
What is the mid-market rate?
The mid-market rate is the midpoint between the bid and ask prices in the wholesale forex market. It is the "reference" rate you see on financial data sites and in our converter. It does not include any spread or margin added by a bank or exchange service.
What is the bank or provider rate?
When you exchange currency at a bank, bureau de change, or payment provider, they typically offer a rate that includes a spread: they buy at one price and sell at another. So the rate you get may be less favorable than the mid-market rate. This spread is how many of these services make money.
Why we show the mid-market rate
We show the mid-market rate so you have a transparent, comparable reference. It helps you see the "fair" value and compare what your bank or provider is offering. Always confirm the actual rate and fees with your provider before transacting.