Methodology

cheqfx aggregates exchange-rate data from central banks, commercial banks, fintech apps, licensed exchanges, and other market sources. Each source is checked on its own refresh cycle; rates are pulled directly from provider feeds, not estimated or interpolated between sources.

Every rate shown comes straight from the provider's own feed — not manually entered, estimated, or interpolated — and refreshes on that provider's update cycle.

Buy is the rate a provider pays you for the currency you're selling to them; sell is the rate they charge you to buy the currency from them. The spread between the two is the provider's margin. [Confirm: which one does cheqfx show by default on the rates table — buy, sell, or the mid-point?]

Every rate is timestamped at the moment it's pulled from its source and refreshed on that provider's own update cycle. [Confirm: your actual refresh cadence per source type — e.g. "official rates refresh every N minutes, bank/fintech rates every N minutes, parallel-market rates every N hours" — fill with real numbers rather than leaving this vague once you have them.]

The official (or reference) rate is the rate published by a country's central bank or monetary authority — the benchmark most other quoted rates are compared against.

For each currency, cheqfx shows the minimum and maximum rate currently reported across the commercial banks tracked for that market, plus the number of banks contributing a live rate — so you can see the real spread between institutions rather than a single averaged figure.

Fintech app rates are aggregated the same way as bank rates: minimum, maximum, and the number of apps contributing a live rate for that currency.

Parallel (street/black-market) rates are sourced from trader networks, public parallel-market trackers. These markets are unregulated and can move sharply; parallel rates on cheqfx should be treated as indicative, not a guarantee of what you'll be offered in a real transaction. See the full disclaimer.

USDT and USDC are shown separately from fiat currency rates, since their price reflects exchange/market trading activity against a dollar peg rather than a central bank or commercial rate — the mechanism behind a stablecoin's price is fundamentally different from a fiat exchange rate, even when the number looks similar.