I have never sold my euro back as i just keep them
for next holiday

looking at the uk post office site today looks like easy money to me

£1,000 You will receive
1214.60 Euros

heres the good part to get £1,000 back it will cost you 1375.00 euro
so every 1,000 gbp you would lose 161 euro.
over 10% not bad for nothing really.


how can it be so much difference in the return?????

Don't know, but i'm like you! I just put whatever i have left away for next trip :-)

Especially now as every time you go the exchange rate is less and less!!!

dick, you're boring us now son.




ANYDAY.

It's not for nothing. They aren't changing money for fun you know. They are running a business. They have to buy it and pay staff to distribute it. Both buying and selling needs to give them a profit so when you compare the buy rate to the sell rate you are talking about two separate acts, each of which needs to make them money. It's no different to a shop buying an item at $10 and selling it to the public at $30. It's called normal business!

As George said, there is a reason for the spread. However, usually it is a bit less than 10%, so if you found a larger spread there are two possible explanations.

One is, the post office is an outlier for exchange rates, and there will be less spread at the bank or at a kiosk.

The second is, they are more uncertain than normal about which way the exchange rate is going, and when the uncertainty is greater the spread has to be larger.