Cryptocurrency Q&A
How do you calculate exchange rate markup?
How do you calculate exchange rate markup?
MysticMoon
Thu Nov 14 2024
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5 answers
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I'm trying to understand how to calculate the markup on an exchange rate. I want to know the formula or method used to determine the additional cost or profit when converting one currency to another.
5 answers
Elena
Sat Nov 16 2024
This involves identifying the real exchange rate and comparing it to the rate offered by your bank.
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Alessandro
Sat Nov 16 2024
The difference between these two rates represents the markup or commission charged by the bank.
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Bianca
Sat Nov 16 2024
To convert this difference into a percentage, you need to perform a simple calculation.
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Pietro
Sat Nov 16 2024
Calculating the markup involves determining the discrepancy between two rates.
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Giuseppe
Sat Nov 16 2024
First, divide the difference by the original exchange rate. This gives you the markup in decimal form.
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