MasterCard exchange rates are based on multiple market sources (such as Bloomberg, Reuters, Central Banks, and others). These rates generally reflect either wholesale market rates or government mandated rates that are collected during our daily rate setting process. The exchange rates displayed on the web site are derived from the buy and sell rates included in the MasterCard daily T057 Currency Conversion Rate File. Please note that MasterCard does not apply the calculated cross-rates when performing currency conversion. As specified in Chapter 12 of the GCMS Reference Manual, MasterCard applies the USD as unique reconciliation currency to manage all currency conversions globally. Due to possible rounding differences, the published calculated cross-rates may not precisely reflect the actual rate applied to the transaction amount when converting to the cardholder billing amount. The calculated cross-rates will be loaded onto the MasterCard web site on a daily basis. Those published rat
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