Got Euros or another foreign currency, or maybe want to buy it in Ecuador getting out of the USD while it’s strong?
So, where has the best exchange rates?
First off, for the best rates be sure to exchange your money in one of the only two cities in Ecuador with international airports… Quito or Guayaquil.
In the smaller towns of Ecuador it may get very difficult to even find somewhere that will exchange money, let alone at a good rate.
In Guayaquil, where I lived for about a year, I recommend the small exchange houses found in the CENTRO near Av. 9 de Octubre.
In Quito, this week in June of 2015, I checked all the places I know to exchange money.
On XE.com while the international rate USD-EUR was $1.128-1…
The buy rate means how much in USD they´ll give you for 1 EURO, the sell rate is how much USD you have to pay them for 1 EURO.
In the airport the rate was … BUY … $1.07 SELL… $1.39 (by far the worst).
In Western Union in downtown Quito… BUY … $1.09… SELL $1.19 (not so good!)
In the biggest bank of Ecuador, Banco Pichincha, the rates were… BUY … $1.15… SELL $1.22 (good buy rate!)
On the street corner where money exchangers have been for years with big wads of cash on Av. Amazonas and Vicente Ramon Roca they were offering … BUY $1.12… SELL $1.18. (average)
At Del Bank, a smaller bank in Quito, they were offering… BUY $1.02… SELL $1.23 (worse)
Then, there are the little exchange houses along AMAZONAS in the MARISCAL sector…
The best rates I found were at MIL CAMBIOS S.A. on Wilson and Amazonas BUY $1.14 … SELL $1.15
and… CAMBIOS NUEVO MILENIO on Amazonas and Carrion BUY $1.15 … SELL $1.20
So, in the end, both the best BUY and SELL rates could be found in the smaller exchange houses mentioned above along AV. Amazonas in Quito although Banco Pichincha wasn´t too shabby. Forex signals UK give us a chance to figure out when to buy and when to sell in order to make a profit.
Also, remember for exchanging larger sums in Ecuador it is accepted to negotiate a slightly better rate.
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