Currency exchange

Definition: what is the change of currency?
 And the change of currency?

Normally is understands by change of currency, the sale of tickets foreigners: you is going of holiday to United States and change tickets of euros by tickets of dollars. That is indeed a change of currency, but there are many other forms.
In a broader definition, currency exchange is called in general any operation by which a ticket check, deposit, loan or any other product, financial instrument or means of payment is to be expressed in a particular currency to be in a different currency.
Each country represents the money that possesses in a unit currency. The function that represents that unit monetary in the interior of the country is defined as currency (the dollar is the currency in United States, the franco, in Switzerland; the Crown, in Denmark, etc.). However, that same currency becomes currency when it represents a cash function in another different country.
In practice, tickets are not considered currency, since they are not used for transactions in the foreign exchange market (the funds are moved and are processed by electronic transfers). In fact, currencies are represented in any means of payment except on banknotes.
So, would be currency exchange operations, but more particularly currency exchange payment into an account in euros in a transfer received in dollars; payment in euros, a cheque issued in yen, the credit cards abroad outside the zone euro, etc. They are non-physical money-related operations.

Where you can change currency?
You can change currency in:
The entities banking. In banks, savings banks and credit unions you can make any type of currency exchange operation, both the buying and selling of tickets orbadges, such as hiring foreign currency loans, open an account in foreign currency,etc. There are that have in has that although the greater part of the entities bankingoffer the service of change of currency not have obligation of do it. The provision ofthis service is free, as it's them other services Bank.
Currency exchange establishments. There are different types.
The authorized only to buy tickets foreigners or checks of traveller with payment ineuros.
The authorized also to sell tickets foreigners or checks of traveller.
People can also do (send or receive) transfers abroad.
The exchange rate and commissions
Table with currency exchange quotes


This is must to them entities have a performance lower with them tickets, since notcan make with them another thing that send them physically to a determined country for deposit you in accounts (i.e., to convert them in badges) and that entails a series of expenses as the management physical, transport, safe, etc. These costs are passed on to the person who performs the operation of purchase or sale of tickets on the Bank or Bureau de change.
To the change money there that have in has both the quote offered as the commissions. Institutions usually charge a minimum fee regardless of the amount of foreign currency to change. Some establishments of change do not charge commissions, but offer quotes less favorable (actually the type of change carries built-in his Commission). That an option is best that another normally will depend of the amount to change. If in doubt it is best to ask directly how much will receive net by a certain amount to be able to compare.
As exchange rates, commissions are free and tend to be higher for the exchange oftickets for foreign exchange. Both banks and other establishments of change have an obligation to be exposed to the public in their local applicable exchange rates in operations up 
to 3,000 euros.
         
Quote, or exchange rate, the number of units of a currency that must be delivered to get one unit from another is called. This "price" of the badge consists of the supply and demand in the currency markets and fluctuates constantly.
Although the European Central Bank and the Bank of Spain published, for information, the value of the euro against other currencies, banks and exchange houses mayfreely apply other quotes setting change buyer (the amount paid by a currency) andchange seller (the price he sold the same currency).
The price of tickets is different to the currency. Change the ticket purchaser is lowerthat the buyer badge, and ticket seller is higher that the seller can make.
Currency convertible and non-convertible
Symbols of currencies: euro, dollar, yen, pound.
Not all currencies can be freely used as means of payment and payment in international transactions. Distinction is made between:
Convertible currency: are those that can be freely converted into international markets, without restrictions of any kind and with a subject only to market change. The euro is a fully convertible currency.
Non-convertible currencies: are those that can not be freely converted or changed to other currencies, either in general or for certain transactions that may be considered not positive for the administration of that country.
Of the 165 different currencies that exist, only eleven are convertible currency:
Canadian dollar
Dollar USA
Danish krone
Norwegian krone
Swedish krona
Franco Swiss
Pound sterling (Great Britain)
Japanese yen
Dollar Australian
New Zealand dollar
The 154 currency not convertible only can use is as medium of payment within your country.