DAYLIGHT ROBBERY OF MONEY CHANGERS IN BUDAPEST

Money changers in downtown Budapest employ a tricky sort of double exchange rate buying one euro for only HUF 193 instead of the official market price of HUF 245.

The indignant tourists and Hungarian clients have lodged their complaints with the Hungarian Foreign Trade Bank but according to the bank the exchange is legal. The Office of Fair Competition said, however, that in the case of more complaints they would start their procedure. The money changing shops of Interchange Ltd acting as agents of Hungarian Foreign Trade Bank operate employing two exchange rates, the higher one is employed only if clients buy forints over the value of HUF 250 000. The law permits this sort of policy but the problem is that money changers in central shops employ the same tactics so uninformed tourists can think they find the same exchange rates everywhere.

P.Sz.Sz.