The exchange rate always presupposes two quotations: one for selling (bid) – applicable when the bank customer wants to sell the currency concerned – and one for buying (offer) – applicable when the bank customer wants to buy the currency.

By convention, the bid exchange rates are presented on the left and the offer exchange rates are presented on the right.

Therefore, when the EUR/USD price of 1,5326/1,5328 is presented, it means that:

• if you want to sell one euro, you will receive USD 1,5326;

• if you want to buy one euro, you will have to pay USD 1,5328.

The selling rate is always lower than the buying rate.