In our last blog, we discussed about the basics of currency Exchange Rates, how the currency values are determined and some of the factors that influence the exchange rates between 2 currencies.
While it is important to know the concepts behind the exchange rate, for your personal money transfer you need to understand what should be your reference exchange rate.
Now, if you are reading this, we understand you are interested in getting more value out of your international money transfers. So, read on and we will help you understand how to find out if you are getting the best exchange rates when sending money from one country to another.
If you do international money transfer to send money to your home country or have exchanged currencies for a foreign travel, you are already aware of the different currency exchange rates that different companies offer. The whole eco system of cross-border money transfer is based on the currency exchange rate. In this blog series, I am going to tell you about what this exchange rate is and how it affects your remittances. The small knowledge about it can save you big when you send money from one country to another.