Spain is one of the largest remittance recipient of the world. It received $10.50 billion in year 2015 among which the major portion was received from France, United States, Argentina and United Kingdom.
European region has been experiencing slowdown in economy and this has also affected remittance inflows in Spain. Though the country’s remittance did not grow much but that had been steady. Similar to remittance market in european region, Spain is also supported by all major banks and money transfer operators.
Over the time, spanish migrants have also been relying on the online remittance providers along with the conventional money transfer channels. When you want to send money to Spain, you should compare the remittance providers. Exchange Rate IQ is one such money transfer comparison service which lets you explore options and compare them side-by-side for exchange rate, fee and transfer time. It also provides an estimated value in EUR for the amount being sent. A
Current Exchange Rate(Mid Market) :- 0.8632 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.