Dollar / Yen Exchange Rate

We try to determine the exchange rate on a weekly basis. Sometimes, we will change it more frequently if the foreign exchage market is extremely volatile

US $ 1 = Japanese ¥ 103

Why is the foreign exchange rate different from what I see in the newspaper?

Foreign exchange rates displayed and used for your International Transaction will differ from the rates that you may see in the newspaper, on the Internet, or on television or here on Yahoo Currency Converter. Published foreign exchange rates are often the interbank rates, which banks charge each other for transactions valued at $1,000,000.00 or more

Secondly, we have to pay to the bank to make the change from Dollar to Yen and it costs us around 2-3 yen per dollar. Therefore, we will have to use our exchagne rate for all Dollar transactions

Thank you for your understanding