Bureau de change

A bureau de change (plural bureaux de change, both ˌbjʊəroʊ_də_ˈʃɒnʒ ; British English) or currency exchange (American English) is a business where people can exchange one currency for another. Originally French, the term bureau de change (byʁo d(ə) ʃɑ̃ʒ) is widely used throughout Europe and French-speaking Canada, where it is common to find a sign saying "exchange" or "change". Since the adoption of the euro, many exchange offices have started incorporating its logotype prominently on their signage. In the United States and English-speaking Canada the business is described as "currency exchange" and sometimes "money exchange", sometimes with various additions such as "foreign", "desk", "office", "counter", "service", etc.; for example, "foreign currency exchange office". A bureau de change is often located at a bank, at a travel agent, airport, main railway station, large supermarket branches, and anywhere else where there is likely to be a market for people needing to convert currency. They are particularly prominent at travel hubs, although currency can be exchanged in many other ways both legally and illegally in other venues. Some of the major players include HSBC, Travelex, JPMorgan Chase & Co., Wells Fargo, and Bank of America. A bureau de change is a business which, in competition with other similar businesses, makes its profit by buying foreign currency and then selling the same currency at a higher exchange rate. It may also charge commission or fee on the purchase or sale. In setting its exchange rates, the business would keep an eye on changing market conditions, as well as the rates quoted by competitors, and may be subject to government foreign exchange controls and other regulations. The exchange rates charged at bureaux are generally related to the spot prices available for large interbank transactions, and are adjusted to ensure a profit. The rate at which a bureau will buy currency differs from that at which it will sell it; for every currency it trades both will be on display, generally in the shop window.