Anonymous asked in Business & FinanceOther - Business & Finance · 1 decade ago

why do forex rates differ betwwen banks?

2 Answers

  • 1 decade ago
    Favorite Answer

    Foreign Exchange rates are set up on a bid/ask spread for the bank. Depending on the timing and price the bank bought the currency for on the market determines the foreign exchange rates offered by banks.

  • 1 decade ago

    they earn the differences...they determine profit margin.

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