How would we define what is the difference between the best foreign exchange rate and the most influential one. The best one is supposed to be the one which is the most powerful and the most influential one is supposed to be the exchange rate which has the most effects on other currencies. Let’s start by digging into the best foreign exchange rate and its power over other currencies and then we will discover which exchange rate is the best one and which one is the most influential.
The best foreign exchange rate has power over other currencies
Especially when you need to send money regularly, even small amounts, but also big amounts, you are looking at exchange rates with either exchange rate notifications or watching exchange rates graphs all day long. When you take a look at the best foreign exchange rate such as USD-EUR or USD-GBP or USD-CNY you will soon realize that there are other currencies changing because of them. For example if the USD EUR is very strong then the USD CHF is going to be very strong too. Because they are linked to each other. That’s why it’s always good to compare exchange rates using a money transfer comparison service before making any international transfer or payment.
The best foreign exchange rate is the Swiss Franc – USD, the most influential one is US dollar – Euro
I would say that it’s obvious that the Swiss Franc and the United States dollars are playing a huge role in the money transfer market. Together they represent 50% of the money which is sent by individuals abroad. USD EUR is also very influential because these are the currencies used by governments which have the power over the world. Let’s guess. Every change is mastered from A to Z? Yes. Almost. That’s why Bitcoin and cryptocurrencies are not welcome. Governments don’t have the power over it.
The best foreign exchange rate or the most influential one is approx EUR, USD and CHF for reasons which are obvious. Governments have the power over them and that’s why we better compare exchange rates before doing anything wrong.