Earlier quoted context omitted.
This isn’t that. I understand if you came to a US store with Canadian dollars, they’d be unlikely to give you the posted exchange rate for them, if the took them at all. Here we’re talking about paying with a credit card that will automatically pay in the local currency, and having the POS terminal, on whoever’s behalf, try and intermediate that to charge a higher rate than the credit card would have, under the false…
Almost. To such a degree I would call it a very dark pattern. There is however one very good argument for. Currencies with very high volatility. Think extreme inflation. If you accept their conversion you know what you pay in your own currency. You have then mitigated a risk. If your own currency is volatile then you might gamble and win. If the foreign currency is volatile you will usually win by paying in the forei…
If you’re in a place that wants dollars or euros because their currency is “bad” (volatile or unable to freely exchange for dollars), they prefer dollars. You can tell because you get a better than official exchange rate.
I have to say I’ve never been somewhere that the currency was so volatile the settlement date mattered. Carrying local currency would be part of your risk? This could only come up in the almost-all-digital-currency modern world.