International currency exchange rates are to be used only as a forecasting tool. Rates change every 15 minutes, and are greatly affected by other factors:
- Rates are greatly affected by world events, more specifically events that may directly affect the country you are looking at, which means that rates can vary greatly from day to day should unusual events transpire.
- Cornell negotiates the best possible rates for all of the departments. However, there are fees associated with conducting international business. Most companies build these charges into the rates of exchange. The rates you are looking at online do not have any costs associated with the currency quotes.
Looking online to obtain a good estimate of costs is a smart business decision. Just remember that the figures should be considered for estimating purposes only.
