Yes, foreign exchange rates are 100% accurate all the time. In other countries, such as Philippines...they have this so called block market and you could get better rates.
We have these rates mainly to make equivalent exchange between countries' currency. They also serve to allow consumers to see how a country's economy is doing.
The foreign exchange market is the made up of 2 components. First the Spot rate. This is the exchange rate at the present time. The spot rate on FX changes every second and is constantly updating....
Currency rates fluctuate on a variety of factors. Ranging from the country's economic health to general investor sentiments. Also combine a factor of the bullish and bearish markets, and you have...
The UAE exchange rate is updated frequently and is considered to be accurate. Be sure to include decimal points in your request; 3.00 will give you a more accurate result than a simple 3.