On what rate Currenge converts money for me, in a transaction integrated with a transfer?
Currenge converts money for you, as part of its service, at bid or ask currency rates that a trading room that serves Us enables us to convert your transaction at.
The conversion margin between the buying and selling (also Known As: ‘Bis – Ask’) rates of each of the three main currencies USD, EUR and GBP against the Israeli Shekel, on trading days when there is relatively normal volatility in the foreign exchange markets, is of about 0.13%.
Converting currencies at a margin such as the above, is that compared to the middle between the buying and selling currency rates (also known as: ‘mid-market’) of a currency out of a currency pair, the transaction cost component, which is associated to currency rates, is of about 0.065%.
The currency pair Bid-Ask margin, which is a ‘transparent’ cost, may increase in a period of high volatility in the foreign exchange markets.
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