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Changing from one foreign currency to another

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Hello everyone.

Does anyone know if foreign currency exchange companies in the UK can provide decent rate when converting from one foreign currency to another (e.g. USD to Yen)?

Or do they generally operate by "Buying back" the first currency into pound before making a second conversion, effectively making it better to carry the first currency to the next country and changing it there? (e.g. Carry the USD to Japan then exchange locally).

Thanks.


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