Why do I get less than expected when I exchange euros for dollars?

• o2 money
• travel money supermarket
• bank charge refunds
• asda delivery charge
• forex exchange
• hosted exchange

A few months ago I came back from a trip to Europe, where I received €200.00. When I came back to the States and exchanged my money at the airport, the human cabbage behind the counter only gave me $222.00 back, when the rate at the time (and I checked it, too) was €1.00 for about every $1.33 (so it should have been $266.00)


Then more recently, I received another €200.00 from Europe through money transfer, and when I went to go retrieve the money, I only got $250.00, and the current exchange rate as of today, Saturday, Oct. 26, 2013, is €1.00 for about every $1.38 (so €200.00 should be $276.00)


So....

what in blue blazes is going on?

Why do I get less than expected when I exchange euros for dollars?