I wish card issuers had to educate consumers about the real cost of their foreign currency transactions by showing the dollar amount of the markups paid on each monthly statement.
That fits with his commitment to innovation, which last year included a world first: a single-card, multi-currency debit card avoiding foreign currency transaction fees.
This means that a foreign currency transaction fee is often applied to the card, even though from the user's perspective no conversion has taken place.
Loss (gain) on foreign currency transactions primarily relates to the unrealized foreign currency exchange rate impact on intercompany debt that has not been permanently invested.
