How do banks calculate exchange rates?

Related questions

1. Can I exchange currency at a bank?
2. What fees does Travelex charge for currency exchange?
3. How do you calculate foreign exchange rates?
4. Can I still exchange old bank notes?
5. Can I still exchange old Philippine Money 2019?
6. Is a higher or lower exchange rate better?
7. Do banks charge for buying foreign currency?
8. Is it better to withdraw money abroad or exchange?
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Tags

1. #percentage
2. #likely
3. #discrepancy
4. #currencies
5. #difference
6. #exchange
7. #rates
8. #between
9. #market
10. #convert
11. #traders
12. #divide
13. #calculate
14. #spreads
15. #conversion
16. #price