Do Exchange Rates Change on Weekends?

If you have ever checked an exchange rate on a Saturday and found it hasn’t budged, you are not imagining it. Exchange rates behave differently on weekends than on weekdays — and understanding why can help you time a transfer and avoid paying a little extra. Here is a clear answer to whether exchange rates change on weekends, and what it means for you.

The short answer

The real, underlying exchange rate — the mid-market rate — barely changes over the weekend, because the market that sets it is closed. What can change is the rate a provider offers you: many banks and transfer services widen their margin slightly on weekends to protect themselves against the market moving when it reopens on Monday. So while the benchmark rate is frozen, your effective cost can be a touch higher.

Why the forex market closes on weekends

The global foreign-exchange market runs on the trading hours of the world’s major financial centers — and those are closed on Saturday and Sunday. In practice, trading pauses from around 5pm New York time on Friday until around 5pm New York time on Sunday, when the new week begins with the market open in Asia. During that window, there is very little trading to move the rate.

What this means for you

• The rate you see on a weekend is essentially Friday’s close. It will not update meaningfully until the market reopens.
• Providers may add a weekend buffer. To cover the risk of a gap when the market reopens, a bank or app might quote a slightly worse rate on Saturday and Sunday.
• Reference rates don’t update. Official rates like the European Central Bank’s are published only on business days, so they hold steady over weekends and public holidays.

Should you avoid sending money on weekends?

For a typical transfer, the difference is small and rarely worth worrying about — convenience usually wins. But if you are moving a large amount, sending during the week, when providers are not pricing in weekend risk, can be marginally cheaper. Either way, the bigger factor is choosing a provider that gives you the mid-market rate in the first place.

When do rates start moving again?

Rates come back to life when the market reopens for the new week — around 5pm New York time on Sunday, as trading starts in Asia — and then update continuously until Friday evening. Note that even on weekdays, bank transfers may not process on public holidays.

Frequently asked questions

Do exchange rates change on weekends?

The underlying market rate barely moves because the global forex market is closed from Friday evening to Sunday evening (US Eastern). The mid-market rate is essentially frozen at Friday’s close, though providers often add a weekend margin, making a weekend transfer slightly pricier.

Why is the forex market closed on weekends?

It runs on the trading hours of major financial centers, which are closed Saturday and Sunday. Trading pauses from about 5pm New York time Friday to about 5pm Sunday, when Asia reopens.

Is it cheaper to exchange money on weekdays?

Often slightly, because providers may add a weekend buffer. For everyday transfers the difference is small; for large amounts, weekdays can be worth it.

Does the mid-market rate update on weekends?

Not really — it stays at Friday’s close. Reference rates like the ECB’s are published only on business days, so they hold over weekends and holidays.

When do rates start moving again?

Around 5pm New York time on Sunday, as trading starts in Asia, then continuously through the week until Friday evening.

Related: What the mid-market rate means · How to get the best exchange rate · How long a SWIFT transfer takes