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Old 06.07.2015, 22:36
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Re: Currency exchange - pips and exchange rates

Take an Excel worksheet and add all those numbers. That will give you a much better overview of what it means and you can play around.

Pips = basis points, as is the "extra" you pay compared to the interbank rate.

At work (and also for my private account) I have an agreement with the bank on how many pips they charge when I do a transaction.

I think the ACT (association of corporate treasurers) and the AFP have some information on their websites.
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