Exchange Premium (Noun)
Meaning
A fee charged for exchanging currencies.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The bank charged an exchange premium for converting the traveler's money into euros.
- When buying foreign currency, it's essential to factor in the exchange premium to avoid overspending.
- The exchange premium varied depending on the location and the currency being exchanged.
- Travelers can save money by comparing exchange premiums among different currency exchange services.
- The airport currency exchange desk charged a high exchange premium, so we decided to look for a better rate elsewhere.