Home Money Exchange What are mid-market rates?

What are mid-market rates?

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What are mid-market rates? Let’s admit it – In the few weeks or days leading up to your holiday trip, your Google browser will most likely be filled with searches of your destination currency exchange rate.

Imagine yourself planning a 4-day eating trip to Penang. Your efforts pay off when the exchange rate finally rises, and your patience and hard work turn to fruition.


You hurriedly head down to a money changer, only to find that the rates offered are higher than that displayed on Google. This dampening experience has no doubt happened to most of us. Fret not however, for there is a silver lining on every dark cloud.

The harsh truth is, the rates displayed ever so clearly on Google searches’ front page are mid-market rates. But what are mid-market rates, and how do they affect us?

Mid-market rates

Mid-market rates are “the midpoint between the buy and sell prices of two currencies or, in other words, between what the buyer is prepared to pay and what the seller is prepared to sell for.” (https://www.kantox.com/en/glossary/mid-market-rate/) Known otherwise as the interbank rate, the mid-market rate is a wholesale rate available only for large banks, money brokers, and financial institutions.


Consumers and individuals are unable to access this rate, and instead have to rely on retail exchange rates offered by money changers, retail banking services or payment gateways such as Visa and Mastercard.

When to use mid-market rates


A quick reference to the mid-market rate on a regular basis is still able to reveal trends in exchange rates, which can be used as an indication for the optimal time to change money. This is because retail exchange rates fluctuate accordingly to changes in the mid-market rate, although not always proportionately. A blind reference to the exact mid-market rate is misleading however, and can often lead to disappointment upon realisation that the retail exchange rate is higher.

Solution for travellers

Consumers and travellers are still able to access the lowest rates available for them, although it is more of an issue of price transparency. Cashchanger provides a solution by publishing real-time exchange rates of money changers located in a city or country.


A simple search for your desired currency pair and exchange amount will yield a list of available money changers, sorted by best rates, by area, and by vicinity. With so much information at hand, users are effectively empowered to make more informed decisions and improve their travel experience.

Next time before you embark on your travels, be sure to use Cashchanger and find the best exchange rates in town! With the best exchange rates, save up to a relaxing full body massage, an appetising Omakase dinner, or additional souvenirs for your family and friends!

For the latest exchange rates, visit

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CashChanger Editor
Co-founder of CashChanger.
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