RBS exchange rates: What you need to know

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Jan 2, 2019

RBS Exchange Rate Photo

CurrencyFees » Fee Guides » RBS exchange rates: What you need to know

RBS offers convenient ways to spend, send and receive money in a multitude of different currencies. Foreign exchange rates represent a major pricing point and there is often little clarity around them. We researched RBS’s exchange rates to provide you a table showcasing their currency rate spread.

RBS exchange rates: Information and tips

Know the latest interbank rate for your currency pairs

The interbank rate (also called mid-market rate) is the midpoint between the buy price and sell price of two currencies on the currency markets. RBS does not offer the interbank rate but instead adds a margin to it, which makes the foreign currency transaction more expensive for you. Before using RBS for international transfers, card payments abroad or your travel money needs, make sure to know the current interbank exchange rate. That way, you’ll be able to calculate FX losses on a foreign currency transaction. You can find the latest interbank rates using our currency converter.

How to calculate exchange rate loss

Here’s what you need to do in order to determine how much RBS’s exchange rate spread is going to cost you:

  1. Multiply your original amount by the current interbank rate (find it on x-rates.com)
  2. Multiply your original amount by the exchange rate RBS offers
  3. Subtract the first amount from the second amount
  4. This is the amount you’ll lose through currency conversion with RBS

Exchange rates can vary

Banks often offer different margins depending on the product and the customer. Commercial exchange rates offered to a business customer are usually better than exchange rates for individuals. For example, the currency conversion rate on an international transfer will differ from a card payment overseas. FX rates also vary by currency and destination countries. Ordering currencies with low market liquidity is likely to be more expensive.

Beware of currency conversion fees

For most types of currency transactions, there are usually more conversion fees that apply. These can either be administrative/service fees coming from RBS, or third party fees from credit card providers or correspondent banks. Always make sure to ask your local branch manager for the full scope of fees before making a transaction involving foreign currency exchange.

Make use of alternatives

New providers and startups in the FX space have emerged to compete with traditional banks. These companies often provide better foreign currency rates than traditional banks. Make sure to compare RBS’s exchange rates with the rates of other currency providers to ensure you get the best deal.

For the best exchange rates, we highly recommend TransferWise. Enjoy your first transfer for free on transfers up to £500.

RBS exchange rate table

The exchange rate spreads below are for ordering foreign currency in cash / international money transfers / remittance. Rates on other services might differ. Those exchange rate margins are indicative at the time of research. Use the RBS currency converter or visit the nearest branch to get the latest rates.

Currency ISO Code Exchange Rate Mid-Market Rate Exchange Rate Margin / Loss
Australian Dollar AUD 1.61 1.732111 7.05%
Bahraini Dinar BHD 0.47 0.500876 6.16%
Barbados Dollar BBD 2.39 2.65472 9.97%
Bermudian Dollar BMD 1.19 1.30773 9.00%
Brazilian Real BRL 3.81 4.350941 12.43%
Brunei Ringgits BND 1.71 1.784637 4.18%
Bulgarian New Lev BGN 1.99 2.230871 10.80%
Canadian Dollar CAD 1.59 1.712167 7.14%
Cayman Islands Dollar KYD 1 1.08848 8.13%
Chilean Peso CLP 750.32 845.11962 11.22%
Colombian Peso COP 3650.92 3968.907624 8.01%
Costa Rican Colon CRC 650.98 756.02917 13.89%
Croatian Kuna HRK 7.69 8.570047 10.27%
Czech Koruna CZK 26 29.241231 11.08%
Danish Krone DKK 7.88 8.480326 7.08%
Dominican Peso DOP 57.1 63.59262 10.21%
East Caribbean Dollar XCD 3.15 3.58402 12.11%
Euro EUR 1.07 1.139748 6.12%
Fiji Dollar FJD 2.48 2.75446 9.96%
French Pacific Franc XPF 121.28 134.37393 9.74%
Guatemalan Quetzal GTQ 8.75 9.59665 8.82%
Hong Kong Dollar HKD 9.66 10.358486 6.74%
Hungarian Forint HUF 316.01 354.968901 10.98%
Icelandic Krone ISK 127.59 139.93307 8.82%
Indonesian Rupiah IDR 16302.5 18000.54652 9.43%
Israeli Shekel ILS 4.31 4.674238 7.79%
Jamaican Dollar JMD 149.56 168.13653 11.05%
Japanese Yen JPY 139.8 150.864892 7.33%
Jordanian Dinar JOD 0.86 0.94088 8.60%
Kenyan Shilling KES 126.06 137.76978 8.50%
Kuwaiti Dinar KWD 0.38 0.401865 5.44%
Malaysian Ringgit MYR 5.25 5.62051 6.59%
Mauritian Rupee MUR 40.6 45.72711 11.21%
Mexican Peso MXN 22.55 25.407196 11.25%
Moroccan Dirham MAD 11.55 12.60371 8.36%
New Zealand Dollar NZD 1.79 1.938166 7.64%
Norwegian Kroner NOK 10.02 10.864766 7.78%
Oman Rial OMR 0.48 0.511126 6.09%
Pakistani Rupee PKR 125.4 139.846475 10.33%
Papua New Guinea Kina PGK 3.79 4.23174 10.44%
Peru New Sol PEN 3.73 4.26995 12.65%
Philippino Peso PHP 63.85 68.540048 6.84%
Polish Zloty PLN 4.31 4.831252 10.79%
Qatar Riyals QAR 4.34 4.760973 8.84%
Romanian Leu RON 4.8 5.161171 7.00%
Russian Ruble RUB 68.55 77.28364 11.30%
Saudi Riyal SAR 4.71 4.979831 5.42%
Singaporean Dollar SGD 1.68 1.809129 7.14%
South African Rand ZAR 17.2 18.778128 8.40%
South Korean Won KRW 1322 1482.668425 10.84%
Sri Lankan Rupee LKR 183.03 200.853843 8.87%
Swedish Krona SEK 10.44 11.114748 6.07%
Swiss Franc CHF 1.24 1.323707 6.32%
Taiwan Dollar TWD 36.76 40.018514 8.14%
Thai Bahts THB 39.63 43.43758 8.77%
Trinidad & Tobago Dollar TTD 7.87 8.95263 12.09%
Turkish Lira New TRY 4.81 5.04333 4.63%
UAE Dirham AED 4.43 4.876339 9.15%
United States Dollar USD 1.25 1.327744 5.86%
Vietnamese Dong VND 27072.5 29679.61809 8.78%
Yuan Renminbi RMB 7.85 8.807271 10.87%

RBS’s exchange rate was collected from RBS’s website on 04/11/2017. Interbank rates collected from x-rates.com on 04/11/2017. The information displayed on this site is subject to change at any time and we do not guarantee 100% accuracy of the information. For the today’s rates, visit RBS’s website, contact RBS’s customer support or log into your online banking and search for their exchange rate calculator. Currencyfees.com is not liable for any financial decisions based on the above information. Currencyfees.com is supported by referral compensations by some of the companies listed in our articles.

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