Mid-market is not what you get at the bank

ECB reference rates are mid-market snapshots — a high-street FX quote usually costs you more both ways.

Why it works

Reference rates ignore the bid/ask spread, fees, and weekend gaps that retail FX products embed. Use them for estimates; lock a real quote for transfers.

Do it exactly

Estimate with the rule, then check it against the calculator that models it properly.

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