asked the Minister for Finance if he is aware that Irish banks do not pay the quoted rates for Irish currencies offered in exchange for other EEC currencies; and if he will take action to correct the problem.
Written Answers. - Irish Currency Rates.
676.
I take it the Deputy is referring to the exchange rates published in the daily newspapers. Those rates apply to large transactions in the foreign exchange market. The rates offered by banks to their customers are based on the market quotations but vary according to the amount involved and whether it is in the form of notes or cheques. I would add that the banks' foreign exchange commissions are supervised by the Central Bank.