Are you visiting Currency exchange or in the final preparations for a trip abroad? Whether you have just arrived in the city or are leaving, the issue of currency exchange comes up regularly!
Finding the best bureau de change: a currency story
Finding the best bureau de change often means finding the one with the best rate. If you go to the United States for example, you can exchange your euros for dollars there. The case could be simple but things get tough when you understand that each bureau de change applies different exchange rates and therefore different commissions. Indeed, it is rare that they align with the average market rate (the one found on Google for example).
Add to this that currencies change values every day – 1 euro can be worth 0.97 dollars and go down to 0.90 dollars the next day! The currency exchange rate is therefore constantly changing.
Does the commission-free exchange office exist?
Many banking institutions proudly claim to offer commission free offers. Nevertheless, remain vigilant! While they might not charge an additional fee, that doesn’t prevent them from exchanging your currencies at a less favorable rate than they are providing themselves with, with the difference remaining in their pocket. Have you ever wondered why exchange offices could afford window displays in busy or tourist areas? There are no miracles, there is no commission-free currency exchange.
Comparison of the best bank cards to use abroad
Multi-currency cards allow you to pay abroad and withdraw foreign currency at better rates than exchange offices. It is also possible to buy currencies cheaper
How to read a currency exchange table?
If you’ve ever watched a currency chart, you may have found that they seem quite complicated to interpret when you don’t know how to read them.
First of all, you need to know whether you are going to buy or sell a currency. Generally :
if you are in France and want to exchange your euros for a foreign currency, you will be said to be buying a currency.
if you are in France but want to have euros for dollars, because you are coming back from a trip for example, then you will be selling currencies.
But the story does not end there, it would be too simple. You have to put yourself in the place of the bureau de change to read the table. If you buy currencies, the office sells them to you . If you buy dollars for euros, the bureau de change sells you foreign currencies for euros, so you have to look at the selling rate
Where can I find a foreign exchange office in Paris?
Imagine strolling through the streets of Paris when you feel the urge to find a bureau de change in Montparnasse. While you may have little opportunity to want to visit a bureau de change on a whim, but knowing where the major establishments in the capital are located will help you plan your currency exchanges.