Why might a merchant refund a customer in Spain a higher amount than the initial purchase?

A merchant might refund a customer in Spain a higher amount than the initial purchase if the exchange rate has changed favorably since the time of the initial transaction. If the value of the currency has risen relative to the currency in which the refund is being issued, it means that the merchant would need to provide more money in the refund to match the original purchase value. This is particularly relevant in international transactions where currencies fluctuate regularly.

In this context, if a customer purchased an item when the currency exchange rate was less favorable, and then the merchant refunds the amount when the rate is higher, the client may receive a refund that exceeds the original purchase price when converted back to their currency. Thus, changes in the exchange rate can effectively increase the amount a merchant refunds compared to the initial transaction amount.