Is there a disconnect between what the bank’s middles rate and what is being exchanged on the global market?
I saw real time quotes of 3.08x yet the bank middle rate (between buy and sell) is still at 3.0755 (30.755 & 30.785 - for Online Banking/App Discount Rate). So even the buy rate is less than the middle rate on the exchange boards.
It seems there are two tiers. Anyone?
Not sure I follow. Currently 1 USD = 30.768 TWD interbank rate.
Megabank buys USD for 30.71 and sells to consumers for 30.81 but that is only indicative on their website, you get a real time quote when you do the transaction. The website info is never 100% live. Maybe I am missing something?
Bloomberg et al real time quote it at 3.081 (middle rate). But the banks’ middle rates are a lot lower. The banks rates get updated every hour or so it seems.
So I wonder if there is an offshore TWD market?
I see. Yeah you have to wait a little to see the current rate reflected. The consumer banks don’t update that quickly.
Edit: Banks usually don’t accept trades after 3:00 or 3:30 pm so if you are on the fence make sure to check before the cutoff.