The rate above is the mid-market rate. As a private person you almost never get exactly that, because banks, card providers and exchange offices earn from the difference. Three things make the biggest difference in practice:
Pay in the local currency. If a card terminal or ATM asks whether to charge you in euros, choose the local currency. The instant conversion offered (“dynamic currency conversion”) is usually much more expensive.
Check your card's fees. Many cards charge a surcharge for payments in foreign currencies. Some cards have no such fee; a look at the price list is worth it before you travel.
Do not exchange cash at the airport. Exchange offices at airports and stations often have poor rates. Compare the offered rate with the mid-market rate above: the bigger the gap, the more expensive.
Where the rates come from
The exchange rates come from Yahoo Finance and show the current mid-market rate. They are updated automatically every two hours. The change versus the previous day shows how much the currency pair moved recently. Exchange rates change constantly; for transfers and card payments your provider's rate at the time of booking always applies.
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