What is The Exchange Rate WeSwap Uses?

Every swap happens at the true, mid-market exchange rate at the time. Also known as the interbank rate or spot rate, this is the rate used in global financial markets (although even banks and large institutions can’t get quite this rate!).

Keep in mind that these rates fluctuate all the time, so if portions of your swap are matched at different times it’s possible that they may be converted at different rates. For example, if some of your money is swapped at 10am, it will swap at the true mid-market exchange rate at that time, and if some of your money is swapped at 3pm you will get the exact market rate at 3pm.

You can always see the exchange rate used for each portion of your swap, as well as the average exchange rate for your swap as a whole, by clicking the “View” button next to the swap on your Dashboard.

If you want to find out what the mid-market exchange rate is at any time, websites such as www.xe.com provide very close approximations of the rates trading in the interbank market.

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