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  1. #1
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    Default USD EUR exchange rates

    Banco Reservas is publishing on its web site exchnge rates for USD and EUR
    Today the BUY - SELL rates are

    EUR 56.00 - 62.00 Span: 10.71%
    USD 52.35 - 52.91 Span: 1.07%

    Can someone explain the huge difference between the BUY - SELL Spans?
    Thanks

  2. #2
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    Quote Originally Posted by CaribeDigital View Post
    Banco Reservas is publishing on its web site exchnge rates for USD and EUR
    Today the BUY - SELL rates are

    EUR 56.00 - 62.00 Span: 10.71%
    USD 52.35 - 52.91 Span: 1.07%

    Can someone explain the huge difference between the BUY - SELL Spans?
    Thanks
    Not so huge, that’s their profit margin. They buy the dollars from you or me, and sell them to those who need them

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    DR1.com

  3. #3
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    I think it has everything to do with supply and demand. Many more US dollars around the country than euros.

  4. #4
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    Quote Originally Posted by AlterEgo View Post
    Not so huge, that’s their profit margin. They buy the dollars from you or me, and sell them to those who need them
    The $ is not huge, but the € ? 6 pesos per € of profit....... i'll do it for 4 lol, that's like some forex on steroids.....

  5. #5
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    That's an insane spread. It's all profit for the cambio. Find someone else to deal with.

  6. #6
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    Hi guys, the span difference is 1:10 and you are calling it no so huge?
    (I am taking about % spans, not about exchange rates)

  7. #7
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    Currencies other than the USD require more processing and will always have a higher spread. 10.71% seems very high, but I've never really looked at USD/EUR before. Check CaribeExpress.

  8. #8
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    Banks offer bad FOREX rates to begin with. Caribe Express is certainly a better option for changing money. I can only guess why Euros have such a poor FOREX rate in the DR and that guess is because the DR has to convert the Euros into US dollars in order to do most of its business. Canadians also cry the blues over the Loony's exchange rate here, most likely for the same reason of conversion to USD.

  9. #9
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    For the record 53.10 behind Solo Pollo ( Baravo) super nice guys

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