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For over a decade Best Exchange Rates has been a trusted voice in foreign exchange.
BER compares exchange rates from popular banks and currency specialists to help you avoid hidden and excessive margins and fees when you send and spend abroad.
We help our users save money by making these fees and exchange rates transparent and easier to compare. With our foreign transfer and currency exchange tools, you can quickly find the cheapest and most convenient way to convert your money.
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Sending money abroad can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers can be very expensive – often 5% to 6% worse than using a foreign exchange specialist to send money abroad or pay a foreign invoice.
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We show you how to save by ordering foreign cash online or compare rates on multi-currency travel cards for better currency exchange rates, convenience and security for your next trip or overseas online purchase.
EURUSD – The European Central Bank surprised markets mid July when it increased interest rates by 50 basis points, the first rise in over a decade. Due to the Eurozone’s reliance on gas from Russia, the euro is very vulnerable to the events in Ukraine with EUR/USD dropping to parity mid-year whereas it had been approaching 1.15 in early February.
CADUSD – The Ukrainian crisis and the risk on-off market are pushing the Canadian dollar rate up and down in a range around 0.7850 to the US dollar (1 USD = 1.27 CAD). Volatile oil prices due to the Russian invasion of Ukraine have lead analysts to predict large price movements to continue for the Canadian Dollar.
AUDUSD – Since May the AUD/USD rate has traded in a range between 0.68 and 0.72 as the RBA has acted on a much predicted aggressive increase to interest rates. However, the AUD’s traditional vulnerability to risk leaves it exposed to a broader correction.
USDJPY – The Japanese yen continues to lose ground against the US dollar. For reference, with USD/JPY hitting 136 in July — a more than 20-Year Low for the yen. Yen weakness against the greenback stems from the interest rate differentials between Japan and the US. The market expects that the Fed Reserve will continue to hike rates aggressively, while the BOJ is committed to low interest rates.
Check out our Content-Hub for more Money Saving Guides, Provider & Bank Reviews, Currency Forecasts and FX-News.
Looking for a way to make your next trip more affordable? Check out our Country Guides to the best deals for your international foreign transfers and travel money. These articles will give you travel tips and offer advice for your next trip abroad.
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