Finance, Forex and Investments

Does a business owner have to use the current exchange rate?

exchange rate as in money.If they are using the old one is it legal?Or do they have to switch to the new one?

Public Comments

1. Businesses that do accept internation currency often have it posted either on their invoice or at the register. I live in Michigan and have traveled to Canada many time. Places that get a lot of tourist near the borders will almost always accept American money. They post an exchange rate like $1US = $1.33 CA . If you agree to it at the time of purchase than you've accepted the terms of sale. This may be a good exchange rate or a bad one but the businesses don't usually change it that often. I've only noticed it changed a few times ever. I would guess that if they customer agrees to the terms and their in writing then you can exchange currency at any rate you want.