Hey @Shrenuj_Parekh! Welcome to Niyo Community!
All the international transactions with Niyo cards will be based on the live Visa exchange rates. The same conversion rate is shown in the Niyo SBM app under the Currency Converter option. You can check the same here: Currency Converter - Exchange Rate Calculator | Visa Kindly update the bank fee as 0% instead of 2%. You might observe a different exchange rate on Google is “wholesale exchange rates”.
"What are wholesale or interbank exchange rates?
What exactly are the rates shown on XE or Google? The rates provided in XE’s free information services are mid-market rates from global currency markets. Likewise, the data for Google’s currency converter is provided by Morningstar, a US-based global provider of financial data. The company aggregates real-time data from worldwide sources, covering major trading venues.
These rates are known as wholesale exchange rates. Wholesale exchange rates are the rates used by banks, governments, investment funds, and large corporates to exchange currencies with one another. You may also have come across the term interbank exchange rates, which narrows the participants to banks."
Regards,
