Best United Arab Emirates Dirham / Ugandan Shilling Exchange Rate Today: 1004.9657
Our comparison table and live data feed show the top euro rate you're likely to achieve for international payments is 1,001.9508, and the most competitive travel money / cash rates start at approximately 995.9210.
Live rate: 1 AED = 1004.9657 UGX (+0.287% )
Inverted: 1 UGX = 0.0010 AED
Click here for our full travel and holiday rates comparison tool.
Comparison Results:
| Provider | Exchange Rate | Fee | You Get | Service | Notes | Action |
Live Market Rate | 1004.9657 | 0 | 994.9160 | |||
 | 1,004.9657 | 1.57% | 989.1877 | Best Multi-Currency Card | The UK's leading payment provider | |
Best Bank Rate  | 976.8267 (upper range) | Variable | 976.8267 | Payments, transfers, holiday money | Determined using data on spread charges supplied by IMTI | |
Worst Bank Rate | 969.7919 (lower range) | Variable | 969.7919 | Payments, transfers, holiday money | Determined using data on spread charges supplied by Money Mover and Accourt | |
Paypal  | 959.7422 | 0 | 959.7422 | International Payments and Transfers |
Set Alert« | » |
January - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1,030.2700 Close: 1,031.1000 Mid: 1,030.8500 | 2 Open: 1,030.3300 Close: 1,036.5600 Mid: 1,033.3700 | 3 Open: 1,031.7900 Close: 1,037.1500 Mid: 1,034.7150 | 4 Open: 1,031.7900 Close: 1,037.1500 Mid: 1,034.7150 | 5 Open: 1,037.8900 Close: 1,032.6700 Mid: 1,035.8800 | 6 | |
7 | 8 Open: 1,028.9500 Close: 1,029.3500 Mid: 1,029.1500 | 9 Open: 1,034.3100 Close: 1,034.0400 Mid: 1,034.0400 | 10 Open: 1,033.9100 Close: 1,034.2900 Mid: 1,034.2950 | 11 Open: 1,034.2000 Close: 1,038.1800 Mid: 1,036.0450 | 12 Open: 1,035.7500 Close: 1,033.0800 Mid: 1,034.4150 | 13 |
14 | 15 Open: 1,033.2700 Close: 1,036.0700 Mid: 1,034.6900 | 16 Open: 1,035.9700 Close: 1,038.7400 Mid: 1,037.3550 | 17 Open: 1,038.7600 Close: 1,039.1700 Mid: 1,038.9200 | 18 Open: 1,038.7600 Close: 1,039.1700 Mid: 1,038.9200 | 19 Open: 1,036.2500 Close: 1,036.9000 Mid: 1,036.5200 | 20 |
21 | 22 Open: 1,036.2500 Close: 1,039.5900 Mid: 1,037.9200 | 23 Open: 1,039.5200 Close: 1,039.7200 Mid: 1,039.3750 | 24 Open: 1,039.8100 Close: 1,038.8100 Mid: 1,039.3450 | 25 Open: 1,038.9400 Close: 1,038.8600 Mid: 1,038.7900 | 26 Open: 1,038.9400 Close: 1,038.8600 Mid: 1,038.7900 | 27 |
28 | 29 Open: 1,041.4000 Close: 1,038.2000 Mid: 1,039.6900 | 30 Open: 1,038.1300 Close: 1,038.8800 Mid: 1,038.3950 | 31 Open: 1,039.3100 Close: 1,037.1100 Mid: 1,038.3300 |
February - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1,039.7600 Close: 1,039.8400 Mid: 1,039.8000 | 2 Open: 1,039.5700 Close: 1,043.5100 Mid: 1,039.5450 | 3 | ||||
4 | 5 Open: 1,049.1700 Close: 1,037.0700 Mid: 1,043.1200 | 6 Open: 1,037.3300 Close: 1,039.9200 Mid: 1,038.6800 | 7 Open: 1,046.1700 Close: 1,041.3400 Mid: 1,043.7550 | 8 Open: 1,041.3200 Close: 1,046.9600 Mid: 1,044.0750 | 9 Open: 1,046.7300 Close: 1,049.0800 Mid: 1,047.9050 | 10 |
11 | 12 Open: 1,047.9700 Close: 1,049.7300 Mid: 1,048.8400 | 13 Open: 1,049.9700 Close: 1,052.8800 Mid: 1,051.0700 | 14 Open: 1,053.4600 Close: 1,053.6200 Mid: 1,053.5400 | 15 Open: 1,053.4600 Close: 1,053.6200 Mid: 1,053.5400 | 16 Open: 1,051.6600 Close: 1,057.4300 Mid: 1,054.6800 | 17 |
18 | 19 Open: 1,051.6600 Close: 1,057.4300 Mid: 1,054.6800 | 20 Open: 1,056.2400 Close: 1,053.4900 Mid: 1,055.0450 | 21 Open: 1,054.0400 Close: 1,059.4900 Mid: 1,056.7600 | 22 Open: 1,059.1600 Close: 1,063.6800 Mid: 1,061.4200 | 23 Open: 1,059.1600 Close: 1,063.6800 Mid: 1,061.4200 | 24 |
25 | 26 Open: 1,059.1600 Close: 1,063.6800 Mid: 1,061.4200 | 27 Open: 1,059.1600 Close: 1,063.6800 Mid: 1,061.4200 | 28 Open: 1,071.2100 Close: 1,072.5600 Mid: 1,072.1850 | 29 Open: 1,072.4900 Close: 1,069.9400 Mid: 1,070.9600 |
March - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1,070.0500 Close: 1,066.2800 Mid: 1,068.4500 | 2 | |||||
3 | 4 Open: 1,064.0900 Close: 1,067.4300 Mid: 1,065.7600 | 5 Open: 1,067.5800 Close: 1,065.1900 Mid: 1,066.3850 | 6 Open: 1,065.3300 Close: 1,065.9200 Mid: 1,065.6250 | 7 Open: 1,065.4500 Close: 1,061.9400 Mid: 1,063.6900 | 8 Open: 1,061.6500 Close: 1,060.5600 Mid: 1,061.1050 | 9 |
10 | 11 Open: 1,061.6500 Close: 1,060.5600 Mid: 1,061.1050 | 12 Open: 1,062.9400 Close: 1,061.4300 Mid: 1,062.2900 | 13 Open: 1,061.6800 Close: 1,060.9200 Mid: 1,061.3000 | 14 Open: 1,058.5600 Close: 1,059.7500 Mid: 1,058.6000 | 15 Open: 1,060.1700 Close: 1,057.7600 Mid: 1,059.1550 | 16 |
17 | 18 Open: 1,057.9900 Close: 1,057.9200 Mid: 1,057.9750 | 19 Open: 1,058.6100 Close: 1,056.1300 Mid: 1,057.5150 | 20 Open: 1,052.6800 Close: 1,054.7300 Mid: 1,053.7950 | 21 Open: 1,053.9300 Close: 1,058.7200 Mid: 1,056.2450 | 22 Open: 1,053.9300 Close: 1,058.7200 Mid: 1,056.2450 | 23 |
24 | 25 Open: 1,062.8500 Close: 1,062.4800 Mid: 1,062.6650 | 26 Open: 1,057.7700 Close: 1,056.0300 Mid: 1,056.6800 | 27 Open: 1,056.4900 Close: 1,056.9000 Mid: 1,056.6950 | 28 Open: 1,057.1800 Close: 1,054.1400 Mid: 1,055.7900 | 29 Open: 1,054.6800 Close: 1,058.4900 Mid: 1,056.8450 | 30 |
31 |
April - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1,057.5700 Close: 1,059.1200 Mid: 1,058.3300 | 2 Open: 1,057.6400 Close: 1,057.1200 Mid: 1,057.4500 | 3 Open: 1,055.0700 Close: 1,053.3200 Mid: 1,054.1950 | 4 Open: 1,052.8600 Close: 1,047.6800 Mid: 1,050.2700 | 5 Open: 1,048.0300 Close: 1,046.4400 Mid: 1,047.2350 | 6 | |
7 | 8 Open: 1,042.5100 Close: 1,042.2000 Mid: 1,042.7700 | 9 Open: 1,041.1800 Close: 1,033.1100 Mid: 1,037.0950 | 10 Open: 1,033.1500 Close: 1,039.1500 Mid: 1,036.1500 | 11 Open: 1,032.0200 Close: 1,037.4900 Mid: 1,034.9550 | 12 Open: 1,032.0200 Close: 1,037.4900 Mid: 1,034.9550 | 13 |
14 | 15 Open: 1,036.2800 Close: 1,038.2500 Mid: 1,037.2650 | 16 Open: 1,038.4100 Close: 1,043.4200 Mid: 1,040.9000 | 17 Open: 1,043.1400 Close: 1,038.0400 Mid: 1,040.6650 | 18 Open: 1,043.1400 Close: 1,038.0400 Mid: 1,040.6650 | 19 Open: 1,038.3600 Close: 1,036.4400 Mid: 1,037.4000 | 20 |
21 | 22 Open: 1,038.3600 Close: 1,036.4400 Mid: 1,037.4000 | 23 Open: 1,035.8300 Close: 1,036.2500 Mid: 1,036.0850 | 24 Open: 1,035.8300 Close: 1,036.2500 Mid: 1,036.0850 | 25 Open: 1,037.8300 Close: 1,039.5100 Mid: 1,038.6700 | 26 Open: 1,039.3900 Close: 1,038.0900 Mid: 1,038.7200 | 27 |
28 | 29 Open: 1,041.3000 Close: 1,041.0500 Mid: 1,041.1750 | 30 Open: 1,041.3000 Close: 1,041.0500 Mid: 1,041.1750 |
May - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1,041.3400 Close: 1,036.8100 Mid: 1,039.1200 | 2 Open: 1,036.3500 Close: 1,034.5100 Mid: 1,035.4300 | 3 Open: 1,034.3100 Close: 1,026.3400 Mid: 1,030.1550 | 4 | |||
5 | 6 Open: 1,030.0200 Close: 1,028.2200 Mid: 1,029.1250 | 7 Open: 1,027.9500 Close: 1,024.2700 Mid: 1,026.0700 | 8 Open: 1,027.9500 Close: 1,024.2700 Mid: 1,026.0700 | 9 Open: 1,030.2100 Close: 1,025.7900 Mid: 1,027.9950 | 10 Open: 1,025.8900 Close: 1,029.9200 Mid: 1,027.9050 | 11 |
12 | 13 Open: 1,029.3400 Close: 1,026.9700 Mid: 1,028.4000 | 14 Open: 1,027.0100 Close: 1,021.8600 Mid: 1,024.5400 | 15 Open: 1,021.6800 Close: 1,022.3100 Mid: 1,021.9950 | 16 Open: 1,022.2600 Close: 1,025.0600 Mid: 1,023.6600 | 17 Open: 1,025.1900 Close: 1,025.6500 Mid: 1,025.4400 | 18 |
19 | 20 Open: 1,034.1200 Close: 1,033.9000 Mid: 1,033.9750 | 21 Open: 1,034.2600 Close: 1,035.6900 Mid: 1,034.9500 | 22 Open: 1,035.9400 Close: 1,037.4800 Mid: 1,036.7450 | 23 Open: 1,037.7400 Close: 1,041.0400 Mid: 1,039.2550 | 24 Open: 1,041.2400 Close: 1,036.1300 Mid: 1,039.0100 | 25 |
26 | 27 Open: 1,035.1500 Close: 1,034.2000 Mid: 1,034.6750 | 28 Open: 1,034.2600 Close: 1,036.9100 Mid: 1,035.5550 | 29 Open: 1,037.2200 Close: 1,038.1300 Mid: 1,037.7800 | 30 Open: 1,038.4200 Close: 1,039.4400 Mid: 1,039.3100 | 31 Open: 1,039.3800 Close: 1,036.6400 Mid: 1,038.1150 |
June - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | ||||||
2 | 3 Open: 1,035.4000 Close: 1,037.9900 Mid: 1,036.8300 | 4 Open: 1,037.5500 Close: 1,036.4900 Mid: 1,036.4700 | 5 Open: 1,036.4300 Close: 1,038.0100 Mid: 1,037.1850 | 6 Open: 1,038.1100 Close: 1,033.1500 Mid: 1,035.5100 | 7 Open: 1,032.8500 Close: 1,034.9400 Mid: 1,033.1700 | 8 |
9 | 10 Open: 1,039.1200 Close: 1,026.1200 Mid: 1,033.2500 | 11 Open: 1,026.0800 Close: 1,025.8200 Mid: 1,025.8800 | 12 Open: 1,025.6000 Close: 1,019.7100 Mid: 1,022.6500 | 13 Open: 1,014.4700 Close: 1,015.4700 Mid: 1,014.9800 | 14 Open: 1,016.4900 Close: 1,011.4700 Mid: 1,013.9800 | 15 |
16 | 17 Open: 1,012.1900 Close: 1,008.5300 Mid: 1,010.3950 | 18 Open: 1,008.6100 Close: 1,012.4200 Mid: 1,010.4500 | 19 Open: 1,012.3200 Close: 1,017.1300 Mid: 1,014.5200 | 20 Open: 1,016.9600 Close: 1,020.6100 Mid: 1,018.7850 | 21 Open: 1,020.5100 Close: 1,019.7000 Mid: 1,020.1050 | 22 |
23 | 24 Open: 1,020.5100 Close: 1,018.1900 Mid: 1,019.3500 | 25 Open: 1,020.5100 Close: 1,018.1900 Mid: 1,019.3500 | 26 Open: 1,009.8500 Close: 1,012.3900 Mid: 1,011.0700 | 27 Open: 1,009.8500 Close: 1,012.3900 Mid: 1,011.0700 | 28 Open: 1,010.2000 Close: 1,010.7700 Mid: 1,010.5950 | 29 |
30 |
July - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1,013.8500 Close: 1,012.0400 Mid: 1,012.7150 | 2 Open: 1,013.8500 Close: 1,012.0400 Mid: 1,012.7150 | 3 Open: 1,005.7000 Close: 1,004.9300 Mid: 1,005.3150 | 4 Open: 1,005.7000 Close: 1,004.9300 Mid: 1,005.3150 | 5 Open: 1,007.3200 Close: 1,006.4000 Mid: 1,006.8600 | 6 | |
7 | 8 Open: 1,007.1100 Close: 1,011.3900 Mid: 1,009.2500 | 9 Open: 1,010.6100 Close: 1,008.9100 Mid: 1,009.6950 | 10 Open: 1,008.8200 Close: 1,008.0100 Mid: 1,008.7450 | 11 Open: 1,008.4700 Close: 1,002.5500 Mid: 1,005.3700 | 12 Open: 1,010.0200 Close: 1,006.9700 Mid: 1,008.8500 | 13 |
14 | 15 Open: 1,006.9300 Close: 1,007.1300 Mid: 1,007.0300 | 16 Open: 1,007.4300 Close: 1,006.3600 Mid: 1,006.8950 | 17 Open: 1,006.5100 Close: 1,007.5700 Mid: 1,006.6600 | 18 Open: 1,007.0400 Close: 1,005.8600 Mid: 1,006.4500 | 19 Open: 1,006.0200 Close: 1,005.6900 Mid: 1,005.8550 | 20 |
21 | 22 Open: 1,005.5800 Close: 1,007.2000 Mid: 1,006.4250 | 23 Open: 1,006.9900 Close: 1,005.9900 Mid: 1,006.6700 | 24 Open: 1,006.2000 Close: 1,012.5200 Mid: 1,009.7350 | 25 Open: 1,012.4400 Close: 1,016.8300 Mid: 1,015.0050 | 26 Open: 1,016.7400 Close: 1,015.2700 Mid: 1,016.0050 | 27 |
28 | 29 Open: 1,015.6000 Close: 1,014.1400 Mid: 1,014.7150 | 30 Open: 1,014.4500 Close: 1,014.1800 Mid: 1,013.9300 | 31 Open: 1,014.2300 Close: 1,013.3800 Mid: 1,014.0050 |
August - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1,013.5100 Close: 1,014.4500 Mid: 1,015.1000 | 2 Open: 1,013.5100 Close: 1,014.4500 Mid: 1,015.1000 | 3 | ||||
4 | 5 Open: 1,007.5900 Close: 1,014.8900 Mid: 1,011.7950 | 6 Open: 1,007.5900 Close: 1,014.8900 Mid: 1,011.7950 | 7 Open: 1,007.5900 Close: 1,014.8900 Mid: 1,011.7950 | 8 Open: 1,013.4200 Close: 1,014.9200 Mid: 1,014.3900 | 9 Open: 1,018.0500 Close: 1,014.1800 Mid: 1,016.1150 | 10 |
11 | 12 Open: 1,012.8800 Close: 1,015.5900 Mid: 1,014.1500 | 13 Open: 1,015.5700 Close: 1,014.2500 Mid: 1,014.9100 | 14 Open: 1,013.6700 Close: 1,014.1100 Mid: 1,013.8400 | 15 Open: 1,014.0100 Close: 1,013.6200 Mid: 1,013.7600 | 16 Open: 1,014.6300 Close: 1,014.8000 Mid: 1,014.5550 | 17 |
18 | 19 Open: 1,011.7500 Close: 1,012.4600 Mid: 1,012.1050 | 20 Open: 1,016.9100 Close: 1,013.0100 Mid: 1,014.9600 | 21 Open: 1,014.7700 Close: 1,012.9700 Mid: 1,013.8700 | 22 Open: 1,018.1200 Close: 1,012.8100 Mid: 1,015.2050 | 23 Open: 1,012.8800 Close: 1,010.7300 Mid: 1,011.8050 | 24 |
25 | 26 Open: 1,005.7100 Close: 1,010.4000 Mid: 1,008.2400 | 27 Open: 1,010.4200 Close: 1,010.7300 Mid: 1,010.5750 | 28 Open: 1,010.4200 Close: 1,010.7300 Mid: 1,010.5750 | 29 Open: 1,013.0700 Close: 1,013.7300 Mid: 1,013.3350 | 30 Open: 1,013.7300 Close: 1,012.5500 Mid: 1,011.9800 | 31 |
September - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 Open: 1,013.7300 Close: 1,012.5500 Mid: 1,011.9800 | 3 Open: 1,013.5800 Close: 1,015.5500 Mid: 1,014.6350 | 4 Open: 1,014.2800 Close: 1,013.4400 Mid: 1,013.9850 | 5 Open: 1,014.9900 Close: 1,012.2200 Mid: 1,013.5250 | 6 Open: 1,012.1400 Close: 1,011.0100 Mid: 1,010.9350 | 7 |
8 | 9 Open: 1,014.9800 Close: 1,010.8800 Mid: 1,012.9200 | 10 Open: 1,010.7700 Close: 1,012.4000 Mid: 1,011.5150 | 11 Open: 1,012.3600 Close: 1,015.1000 Mid: 1,013.6950 | 12 Open: 1,015.1400 Close: 1,011.9200 Mid: 1,013.8350 | 13 Open: 1,015.8300 Close: 1,011.3200 Mid: 1,013.5750 | 14 |
15 | 16 Open: 1,012.4900 Close: 1,007.8300 Mid: 1,010.1600 | 17 Open: 1,008.9800 Close: 1,011.7900 Mid: 1,009.7800 | 18 Open: 1,011.2400 Close: 1,013.2900 Mid: 1,012.6650 | 19 Open: 1,013.5000 Close: 1,012.2400 Mid: 1,012.8400 | 20 Open: 1,012.0300 Close: 1,008.4400 Mid: 1,009.7800 | 21 |
22 | 23 Open: 1,008.9300 Close: 1,005.9900 Mid: 1,007.4600 | 24 Open: 1,008.9300 Close: 1,005.9900 Mid: 1,007.4600 | 25 Open: 1,006.0800 Close: 1,006.2800 Mid: 1,005.8550 | 26 Open: 1,006.7100 Close: 1,005.4900 Mid: 1,006.3350 | 27 Open: 1,005.3900 Close: 1,004.9800 Mid: 1,005.2500 | 28 |
29 | 30 Open: 1,006.6000 Close: 1,005.3400 Mid: 1,005.8200 |
October - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 1,006.0800 Close: 998.8550 Mid: 1,002.6675 | 2 Open: 1,006.0800 Close: 998.8550 Mid: 1,002.6675 | 3 Open: 1,000.7200 Close: 997.0510 Mid: 998.9685 | 4 Open: 997.5910 Close: 999.3170 Mid: 997.7515 | 5 | ||
6 | 7 Open: 997.5910 Close: 999.3170 Mid: 997.7515 | 8 Open: 997.5910 Close: 999.3170 Mid: 997.7515 | 9 Open: 1,000.3700 Close: 1,001.0200 Mid: 1,000.6950 | 10 Open: 1,001.1200 Close: 1,001.5200 Mid: 1,001.3200 | 11 Open: 1,001.1200 Close: 1,001.5200 Mid: 1,001.3200 | 12 |
13 | 14 Open: 1,000.3500 Close: 997.1640 Mid: 998.7570 | 15 Open: 1,000.3500 Close: 997.1640 Mid: 998.7570 | 16 Open: 994.7730 Close: 998.2030 Mid: 996.4675 | 17 Open: 998.4120 Close: 1,000.0600 Mid: 999.2580 | 18 Open: 998.4120 Close: 1,000.0600 Mid: 999.2580 | 19 |
20 | 21 Open: 998.2470 Close: 997.0750 Mid: 997.6610 | 22 Open: 997.4220 Close: 998.9710 Mid: 998.1335 | 23 Open: 999.5170 Close: 998.4670 Mid: 998.9920 | 24 Open: 999.6850 Close: 998.7620 Mid: 999.3290 | 25 Open: 999.3700 Close: 998.2190 Mid: 998.9310 | 26 |
27 | 28 Open: 998.9090 Close: 998.2380 Mid: 998.8040 | 29 Open: 998.1330 Close: 997.9240 Mid: 998.2485 | 30 Open: 997.7360 Close: 996.5200 Mid: 997.5675 | 31 Open: 996.0790 Close: 999.1800 Mid: 997.3580 |
November - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 Open: 995.6240 Close: 993.3870 Mid: 995.7045 | 2 | |||||
3 | 4 Open: 993.9330 Close: 995.9920 Mid: 994.6075 | 5 Open: 1,000.7100 Close: 999.3710 Mid: 1,000.2505 | 6 Open: 992.6610 Close: 1,002.5600 Mid: 997.6105 | 7 Open: 1,004.6800 Close: 997.6250 Mid: 1,001.1525 | 8 Open: 997.7300 Close: 998.7590 Mid: 997.8360 | 9 |
10 | 11 Open: 995.9920 Close: 999.0270 Mid: 997.5410 | 12 Open: 998.7730 Close: 1,002.2300 Mid: 1,000.5015 | 13 Open: 995.7470 Close: 1,000.5800 Mid: 998.1935 | 14 Open: 1,001.6900 Close: 998.0870 Mid: 1,001.1350 | 15 Open: 1,000.8400 Close: 1,002.3700 Mid: 1,000.7450 | 16 |
17 | 18 Open: 1,003.8400 Close: 999.1600 Mid: 1,001.9250 | 19 Open: 998.7080 Close: 1,002.0900 Mid: 999.3970 | 20 Open: 998.7080 Close: 1,002.0900 Mid: 999.3970 | 21 | 22 | 23 |
24 | 25 | 26 | 27 | 28 | 29 | 30 |
December - 2024
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
1 | 2 | 3 | 4 | 5 | 6 | 7 |
8 | 9 | 10 | 11 | 12 | 13 | 14 |
15 | 16 | 17 | 18 | 19 | 20 | 21 |
22 | 23 | 24 | 25 | 26 | 27 | 28 |
29 | 30 | 31 |
Compare Exchange Rates:
Know What the Best Exchange Rate Looks Like
Benchmark the exchange rate market with Pound Sterling Live's custom currency rate comparison tool with built-in algorithms to find the best rates in the market.
Banks and financial institutions buy and sell currency from each other - these sizeable institutions are 'the market' and the rate they transact at is the 'market rate'. The difference between how much a currency is purchased and sold is the spread, which is essentially the difference between the buy and sell price.
But, when currency is sold by banks to retail customers that spread widens significantly and the profit on the transaction is therefore substantially larger.
Therefore when we focus on the transfer fee when sending money abroad we often miss the biggest cost: the exchange rate spread.
Foreign exchange providers have essentially recognised this and they enter the market to transfer money at tighter spreads, thereby saving potentially significant amounts of money for their clients simply by providing better exchange rates.
For example, the transfer of £100K into euros is expected to attract a rate that delivers between €112,480 and €113,296 with the UK's leading high street banks. But FCA authorised providers will provide a rate that delivers between €115,510 and €115,740 (using rates on 05/07/21).
Taking the time to work with a FCA regulated currency provider could therefore result in the delivery of an extra euros amount of between €2444 and €3030.
Pound Sterling Live only works with foreign exchange payment companies that are FCA Authorised. This is important: FCA regulations and oversight requires the money they transfer on your behalf to be protected through a process known as 'safeguarding'. Safeguarding requires the payments company to keep your money separate from their own money in a top-tier bank. Therefore if the provider comes under stress your money should be protected.
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