The next time you want to convert currency you would be wise to check around. Banks, Brokers and other financial institutions see this as a significant profit driver and there are no rules or regulations as to how much they can charge.
It is particularly evident in the investment business where the costs of converting can be as much or more than the commission on the investment itself. It is not only the little guy check out this piece on the how the SEC is investigating State Street on inflated currency conversion costs for pension funds.
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