What is a currency?
A currency is the state-regulated monetary system of a state or a community of states. A currency is therefore a legal tender.
What is a currency?
What is an exchange rate?
On a foreign exchange market, a price for a currency is formed by demand and supply. The price is called the exchange rate.
What is an exchange rate?
What is the cash exchange rate?
Foreign cash includes all foreign banknotes and coins. The cash exchange rate is the rate that the banks calculate for buying and selling these foreign notes and coins. Since there is no official foreign notes and coins exchange in Germany, it results from trading between banks.
It usually refers to banknotes, since foreign coins are traded at a considerable discount, if any, due to the high costs involved. Therefore, all coins should be issued there when travelling abroad.
The foreign exchange rate is about four percent higher than the exchange rate.
What is the cash exchange rate?
Who issues a currency?
A central bank produces the money, the notes and coins, and circulates the money. A central bank can thus control the entire money supply.
Who issues a currency?
Where can I exchange money at the rates indicated in the currency converter?
The respective value in the currency converter results from different exchange rates. It is an average value of the international foreign exchange markets.
The displayed value of the currency calculator is an informative, not a real traded value. Depending on the bank or currency exchange office, the purchase and sale of a currency may differ from the exchange rate indicated.
Where can I exchange money at the rates indicated in the currency converter?
What is the credit card rate?
Bank customers who withdraw a foreign currency abroad often receive cash at the credit card rate rather than at a favourable exchange rate. This rate is approximately two percent above the exchange rate.
What is the credit card rate?
