Although there tends to be a global reported price for FX, in reality it's an array of institutions enabling buying and selling. The actual price you get for y

Although there tends to be a global reported price for FX, in reality it's an array of institutions enabling buying and selling. The actual price you get for your transactions depends on who you're transacting with. If you use a Visa or a Mastercard, generally there is fee taken by those companies, about 0.5% and then your bank may take a further cut, usually about 3%. There are many cards that don't take the 3%. You may find that the transaction is reported to you initially near the spot price, less the 0.5%, but you'll see a different amount on your statement because the settlement of the transaction takes place at a different time (maybe 2 days later) and a different exchange rate. The reason for this is that the parties involved want to avoid exchange rate risk so they take the market rate when they actually account for the payment.