Based on the Western Union’s currency converter, the current exchange rate is 1 Euro = 64.34 Indian Rupees. It is important to remember that the exchange rates fluctuate on a daily basis. Currently, the trend shows the value of the rupee is increasing. Over the past 90 days, the rate of 1 Euro has remained well above 60 Rupees. At this time last year, the ratio was 1 Euro = about 55 Rupees. The Western Union provides rates that are often lower than the true exchange rate. Other sources are showing the true current exchange rate as 1 Euro = 65.63 Rupees. Keep in mind that Western Union is a for-profit business. They will try to make money when possible.
The people who use Western Union’s rates are usually customers who are transferring money. If you are not going to use this service, it is probably best to find another business to convert your money. Western Union’s policy is to give the customer a worse currency rate than it receives. Western Union keeps the difference. For example, Western Union provides a 64.34 to 1 ration on Euros to Rupees. The true exchange rate is 65.63. Western Union will keep 1.29 Rupees per Euro that the customer exchanges. That may not sound like much money, but if the customer is dealing in large sums of currency, the difference adds up.
Western Union also charges transfer fees for their customers. This is in addition to the money the customer loses in the exchange rate. Their main purpose is to be a service provider. Western Union is an excellent service provider for those wanting to wire transfer their money to an account in another country. They are reliable and honest. If you are trying to simply exchange money, Western Union is not recommended.
The people who use Western Union’s rates are usually customers who are transferring money. If you are not going to use this service, it is probably best to find another business to convert your money. Western Union’s policy is to give the customer a worse currency rate than it receives. Western Union keeps the difference. For example, Western Union provides a 64.34 to 1 ration on Euros to Rupees. The true exchange rate is 65.63. Western Union will keep 1.29 Rupees per Euro that the customer exchanges. That may not sound like much money, but if the customer is dealing in large sums of currency, the difference adds up.
Western Union also charges transfer fees for their customers. This is in addition to the money the customer loses in the exchange rate. Their main purpose is to be a service provider. Western Union is an excellent service provider for those wanting to wire transfer their money to an account in another country. They are reliable and honest. If you are trying to simply exchange money, Western Union is not recommended.
