Exchanging money

Yolie, other than for acquiring a small amount of euros to have on hand when you hit the ground in Italy, there's no need to exchange USD. Use ATMs when you get there.

https://community.ricksteves.com/travel-forum/italy/getting-euros-in-italy-us-or-both
https://community.ricksteves.com/travel-forum/italy/atm-prompts-to-obtain-a-cash-withdrawal-in-italy
https://www.ricksteves.com/travel-tips/money/cash-tips

Actually it’s below current market. What is your source? This is about $1.1177 = 1€. Current F/X rate on exchanges is $1.1227 = 1€. The rates fluctuate minute to minute so by the time of your trip, it might be better or worse. The difference in rates normally has such a minimal effect on the total cost of a trip that I find nothing to concern myself with. As a now retired CFO of an international consulting company, there was a time I was concerned with even minor fluctuations in rates. As a traveler, I can’t be bothered.

Let’s say you take a trip and incur $5,000 in expenses in a foreign currency. If the rate changes by 1¢ (positive or negative), you’re talking about $50. As suggested, use an ATM when you get there and make sure your bank at home doesn’t slap you with a 3% foreign transaction fee. If your bank does, open an account at one that doesn’t - Capital One, Charles Schwab. Same for your credit cards.

Here is a link to current FX conversion rates:
https://www.oanda.com/currency/converter/
At the current Interbank FX Rate: 1 EUR will cost $1.12295 USD
Think of the Interbank FX Rate as the wholesale rate.

Thank you so much!

Ask them what their fee is to provide you euros too.

in Italy we used the local Poste we waited a while but it was a good rate

Make your life easy: use an ATM and get a good debit card. Don't "exchange" money - withdraw money from ATM instead.

Indeed. You are not "exchanging money", you are BUYING local currency. And as with everything you buy, there is a cost. Withdraw your money from your bank account at an ATM with your debit card, paid out in the local currency.

https://www.merriam-webster.com/dictionary/exchange

"exchanging" seems to be a valid description of the transaction

If that is the case then any time one buys anything it would be considered an exchange. We have a semantic holdover from when you had to engage another party to physically change your money from one currency to another (sell you that currency) and did not have the ability we now have to withdraw another currency directly from your bank account without the involvement of any other agency. Hence an “exchange” is not involved.

https://en.oxforddictionaries.com/definition/buy

buy

VERB [WITH OBJECT]

1 Obtain in exchange for payment.

https://www.telegraph.co.uk/finance/businessclub/money/11174013/The-history-of-money-from-barter-to-bitcoin.html