I would like to know if there is a favorable or non-favorable time to do currency exchange at the bank. I was told one gets bad rates if one does it late afternoon and on Fridays.
I never heard that. At my small community bank the rate you got was what was offered by our correspondent bank when they received our request. We were a middle man, so if you came to us on Friday afternoon, the exchange rate wouldn't be known until probably the next Tuesday.
Larger banks in larger areas can often do the exchange for you in real time, and it just depends on the rate at that time. I don't know that there is any cycle.
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I never heard that. At my small community bank the rate you got was what was offered by our correspondent bank when they received our request. We were a middle man, so if you came to us on Friday afternoon, the exchange rate wouldn't be known until probably the next Tuesday.