Exchange Rates

Exchange rates today and the NBU official rate
When you look for today's exchange rate you will encounter several different values for the same currency pair. The official NBU rate is a benchmark published by the regulator and used for reporting and conversion in government operations.

The official rate does not always reflect the commercial reality on the street or in payment systems. It shows market trends but does not include banks' margins and conversion costs that affect the final price for the customer.
How the cash exchange rate differs
The cash rate is the amount at which a bank branch or exchange point will buy or sell currency to you. This rate includes costs for servicing the operation, collection risks and the physical availability of banknotes, so the figures usually differ from the official rate.
Cash operations details
When exchanging cash the seller needs time to manage risks associated with handling banknotes and their safekeeping. For this reason buying currency in cash often carries a higher margin than a non-cash transaction and this should be taken into account when planning an exchange.

Demand and supply at a particular branch or city also affect cash operations. If there is little currency the rate may be less favourable for the customer, and if there is enough the conditions may improve.
Card rate and card payment
The card rate is used when you pay by card abroad or online in a foreign currency. It is based on the interbank rate but includes the bank's and payment system's margin or conversion surcharges.
What to consider when calculating cost
When paying by card it is important to pay attention to which currency is selected for debiting and whether there will be an additional conversion fee. Sometimes the convenience of cashless payment costs a little more than exchanging cash but provides speed and security for the transaction.

Also note exchange rate differences when payments are refunded and when different payment instruments are used simultaneously. Bank transfers may be executed at a rate that differs from the one you saw at the time of the transaction.
Why banks set a different rate than the NBU
Banks and exchange offices set their own rates to cover operating costs, risks and to make a profit. These costs include customer service, cash collection, compliance, IT expenses and reserves for sudden market fluctuations.

Besides its own costs, a bank's price also takes into account liquidity risk and the speed of execution. This means that buying and selling the same currency at the same bank can differ by much more than the official difference between rates.
How the spread is formed and what to check before exchange
The spread is the difference between the price at which the bank buys a currency and the price at which it sells it. This mechanism gives the bank room to cover costs and make a profit, and the spread often determines how favourable the transaction will be for you.

Before exchanging pay attention to the buy and sell amounts, compare card and cash offers and check for additional commissions. It is also useful to check the rate update time and conversion conditions to avoid surprises when funds are debited.

Check whether prices include the transaction fee.
Compare rates at different branches and in your bank's payment system.
Pay attention to notifications about limits or additional fees.

A little preparation allows you to reduce exchange costs and better understand your own financial flows. If you follow today's exchange rates, compare different sources of rates and pay attention to all accompanying transaction conditions.

When you know how rates and spreads are formed, you can more quickly assess the cost of a transaction and choose the most convenient exchange option. Remember that the official rate is only a guideline and the final price depends on many circumstances that should be taken into account.