Currency exchange rate shown on Monzo transaction inaccurate

I made a purchase in Germany for 149 euros on 20/12/2018 using my Monzo card. In the Monzo transaction, the exchange rate shown was 1.11 and there was a note saying this may be adjusted in a couple of days. The amount charged initially was £134.36. The day after, the amount charged was £134.86 although the exchange rate is still showing as 1.11. what’s more is that if I apply that exchange rate to 149 euros, then I get £134.23.
I wrote to Monzo customer support and they assured me that there are no extra fees applied by Monzo but they also couldn’t figure out why I was being charged this amount. The response I got was:
‘I’ve just used the currency converter on the mastercard website - you have been charged the true mastercard exchance rate. The exchange rate is rounded to 2 decimal places and is 1 GBP = 1.112761 which may explain this.’

I responded that this doesn’t explain it as
149 / 1.112761 = 133.90.
I’ve been charged 134.86.
That’s a discrepancy of 0.96.

I shall be grateful if someone in the community or from Monzo could explain what is going on here.

What seems to be happening definitely is that the final exchange rate is not shown accurately, possibly due to digits missing.
However, as even customer support couldn’t explain what’s going on, I’m posting it here.

Monzo habe refunded me the 0.96 discrepancy, however this is only one example of quite a few where the numbers don’t work out.

I think it should be possible to calculate the £ amount applied from the information shown in the app, which currently doesn’t work.


maybe its to do with the mid , bid and intraday rates ? maybe the merchants didnt present it until the day after ?


But shouldn’t the exchange rate of the posted transaction, as displayed in app, be the rate used to do the coversion? As I’ve understood the initial post, that’s not the case in this instance, even once the cops explained the rounding?


Correct @Kumnaa that was my point.

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