Impact of BDO Forex Rates on Your TransactionsīDO forex rates can have a significant impact on the cost and profitability of your forex trades. This means that if you exchange 100 USD, you will receive 4,850 PHP, while if you want to convert 100 PHP back into USD, you will receive 2 USD less due to the spread. BDO quotes a buying rate of 48.50 and a selling rate of 49.50. It is important to note that BDO’s spreads may vary depending on the currency pair you are trading and the size of your transaction.įor example, let’s say you want to exchange US dollars (USD) for Philippine pesos (PHP). BDO’s spread represents the bank’s profit margin on each forex transaction. The difference between the buying and selling rates is known as the spread. The buying rate is the rate at which BDO buys a particular currency from you, while the selling rate is the rate at which BDO sells a currency to you. When you trade forex with BDO, you will notice that the bank quotes two rates: the buying rate and the selling rate. BDO aims to offer competitive rates while still maintaining profitability. This means that BDO’s rates may not always exactly match the rates you see on international forex platforms or other banks.
However, BDO also takes into account its own costs and profit margins when determining its forex rates. Like any other financial institution, BDO buys and sells foreign currencies in the forex market and quotes exchange rates based on the prevailing market rates. BDO Forex Rates: How Are They Determined?īDO forex rates are determined by several factors, including market conditions, supply and demand dynamics, and the bank’s own pricing strategies.
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