Italy is the world’s 8th largest economy by nominal GDP. In year 2015, Italy received inward remittances worth $ 9.5 billion and sent outward remittances worth $ 15.4 billion globally. These figures show that remittance market of Italy is quite mature.
When you want to send money to Italy you will get all kinds of options ranging from banks, traditional money transfer operators and next generation money transfer operators. Before choosing a money transfer service, you must compare them thoroughly so that you don’t lose your money for low exchange rate or hidden charges.
Make sure you check the mid-market rate and compare the exchange rate, fee, transfer time, offers to get the best value for your money transfer to Italy. Leverage a unified search and compare platform for international money transfer like ExchangeRateIQ to save your time and money.
Current Exchange Rate(Mid Market) :- 0.8133 EUR/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.