Or, just convert a certain amount of one currency into another:
This service is provided Free of Charge by Xenon Laboratories, Inc. ("Xenon") and is designed for importers and exporters who would like to negotiate a price in their supplier or customer's currency while confirming the value of funds to be received in their own currency.
Where does Xenon get its currency rates? Are they buy rates or sell rates?
Xenon obtains its rates from a variety of sources. Xenon's primary sources are live, real-time rate feeds containing data from foreign exchange markets all around the world. Because it is always daytime somewhere in the world, there is a good chance that a currency market somewhere is currently trading. Since Xenon's feed is global, this means that a currency's rate can be updated even when the markets of its home country are closed.
Xenon's rates are neither "buy" rates or "sell" rates, as these are retail currency concepts. Xenon's rates are, in fact, the large-volume money market rates upon which retail rates are based. Xenon's rates come from actual currency market trades. As a hypothetical example, suppose an international bank agreed to exchange 25,000,000 US Dollars to another bank in exchange for 52,500,000 Deutsche Marks. When this transaction occurs, it actually sets the new currency rate. (In this example, 2.1 DEM per USD.) Is this a buy rate or a sell rate? As you can see, the question is meaningless in this context. The concept of "buy" and "sell" rates is only used for much smaller (retail level) transactions, where the currency merchant has to make a profit to stay in business. Retail rates are set differently (and arbitrarily) by the people who actually buy and selling currency.
Using these the live rates, Xenon calculate a time-weighted average for use in its services. Xenon states that its rates always include the latest market currency rates, and are weighted towards market data in the last fifteen minutes. This mechanism, along with highly advanced logic for detecting mistakes in the feeds, ensures that Xenon's rates closely follow the market while minimizing the effect of anomalous trades.
If you require real-time, tick-by-tick currency rates and tracking software, Xenon suggest you contact an organization like Data Broadcasting Corporation (DBC).
For more important information on the nature and benefits of this service, including a very important note about bank charges, click here.
To support Xenon for this fantastic service that they are providing, please fill out their questionnaire about their service. The information provided by Xenon is indicative only, should not be relied upon, and is based on rates and figures that might significantly differ from those of your bank. We strongly suggest you wait until you receive your bank's quotation for this transaction BEFORE you agree to a price with your supplier or customer.This service is a component of the Universal Currency Converter™. Universal Currency Converter services, programs, compiled binaries, interface text and graphics, and documentation are copyright © 1995-1999 Xenon Laboratories Incorporated, all rights reserved. Exporter Pricing System, Universal Currency Converter and the spinning currency logo are trade marks of Xenon Laboratories Incorporated.