How does 2CO determine the foreign exchange rate used for currency conversion?

2CO receives quoted rates from its currency partner once a day. These rates are based on inter-bank rates (only available to the largest international banks purchasing currencies in quantities of $1million USD or more) and include a calculated value of the costs of hedging, currency conversions and foreign exchange activities needed to guarantee the rates throughout the life cycle of the transaction. These guaranteed rates are used to calculate the USD settlements as well as refunds and exchanges.

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2 Comments »

# Comment by erum
2009-01-06 07:06:09

Can one see the rates anywhere?

 
# Comment by joel 2CO Staff
2009-01-06 15:16:37

erum – At this time we do not publish these rates. I will add you to our developers request for a feature to view the rates but just for reference, you may want to read
How does 2CO determine the foreign exchange rate used for currency conversion? and Why are these rates different from the rates I see in the newspaper?

 
 
 
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