Currency Converter
Convert between world currencies with live exchange rates. Quick and accurate conversions for travel, business, and international transactions.
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Table of Contents
What is Currency Conversion?
Currency conversion is the process of exchanging one currency for another at a specific exchange rate. Exchange rates fluctuate constantly based on various economic factors, including interest rates, inflation, trade balances, and geopolitical events.
Whether you're traveling abroad, making international purchases, sending money overseas, or managing a global business, understanding currency conversion is essential for making informed financial decisions.
Our currency converter uses live exchange rates from the European Central Bank to provide accurate, up-to-date conversions between major world currencies.
How it Works
Using our currency converter is simple:
- Enter an amount: Type the amount you want to convert in the input field.
- Select currencies: Choose the source currency (From) and target currency (To) from the dropdown menus.
- View results: The converted amount appears instantly with the current exchange rate.
- Swap currencies: Click the swap button to quickly reverse the conversion direction.
The converter fetches real-time exchange rates and caches them for faster subsequent conversions. Quick amount buttons and popular currency pair shortcuts make it easy to perform common conversions.
Understanding Exchange Rates
What Determines Exchange Rates?
Exchange rates are influenced by multiple factors:
- Interest rates: Higher interest rates typically strengthen a currency
- Inflation: Lower inflation generally leads to currency appreciation
- Economic performance: Strong GDP growth attracts foreign investment
- Trade balance: Countries with trade surpluses tend to have stronger currencies
- Political stability: Stable governments inspire currency confidence
- Market speculation: Trader expectations can move exchange rates
Types of Exchange Rates
- Spot rate: The current market rate for immediate exchange
- Forward rate: An agreed rate for future exchange
- Mid-market rate: The midpoint between buy and sell rates (what we show)
- Retail rate: What banks and exchange services offer (includes margins)
Major World Currencies
๐บ๐ธ US Dollar (USD)
The world's primary reserve currency, used in approximately 88% of all foreign exchange transactions.
๐ช๐บ Euro (EUR)
The official currency of 20 European Union countries and the second most traded currency globally.
๐ฌ๐ง British Pound (GBP)
One of the oldest currencies still in use, and the fourth most traded currency worldwide.
๐ฏ๐ต Japanese Yen (JPY)
The third most traded currency and a major safe-haven currency during market uncertainty.
๐จ๐ญ Swiss Franc (CHF)
Known for stability and neutrality, the Swiss Franc is a popular safe-haven currency.
๐จ๐ณ Chinese Yuan (CNY)
The currency of the world's second-largest economy, increasingly used in international trade.
Common Use Cases
- Travel planning: Calculate how much foreign currency you'll get for your money before traveling abroad.
- International shopping: Convert prices when buying from foreign websites or marketplaces.
- Money transfers: Know the value of international wire transfers or remittances.
- Investment decisions: Evaluate foreign investments or track currency exposure in your portfolio.
- Business transactions: Price products and services for international markets.
- Expense reporting: Convert foreign receipts to your home currency for reimbursement.
- Budget planning: Estimate costs for international trips or projects.
- Salary comparison: Compare job offers in different countries.
Currency Conversion Tips
For Travelers
- Avoid airport exchange countersโthey typically offer the worst rates with high fees.
- Use local ATMs for better rates, but check your bank's foreign transaction fees.
- Always choose to pay in the local currency when given the option (decline dynamic currency conversion).
- Consider a travel credit card with no foreign transaction fees.
For Online Shopping
- Compare prices in your home currency before purchasing from foreign sites.
- Factor in shipping costs and potential customs duties.
- Be aware that your credit card may add a foreign transaction fee (usually 1-3%).
For Money Transfers
- Compare different servicesโrates and fees can vary significantly.
- Look for services that use the mid-market rate with transparent fees.
- Consider timingโexchange rates can be volatile, especially during major news events.
Frequently Asked Questions
Our exchange rates are sourced from the European Central Bank and are updated daily on business days. The rates represent the mid-market rate, which is the midpoint between buy and sell prices and the fairest rate you'll find.
Banks and exchange services add a margin (markup) to the mid-market rate to make a profit. This margin can range from 1% to 5% or more. Our converter shows the mid-market rate, which is the "real" exchange rate without any markup. The difference between our rate and what you're offered elsewhere represents the fee you're paying.
This converter shows current market rates for informational purposes. To lock in a rate, you'd need to use a money transfer service that offers forward contracts or a bank's foreign exchange services. Keep in mind that rates shown here may differ slightly from the rate you receive when actually exchanging money.
Exchange rates fluctuate constantly based on market conditions. While it's impossible to predict the perfect time, you can monitor rates over time to identify trends. Major economic announcements, central bank decisions, and geopolitical events can cause significant rate movements. For large amounts, consider using rate alerts to notify you when favorable rates occur.
Our converter includes 30 of the most commonly traded world currencies. Some currencies may not be available due to limited trading data or because they're pegged to another currency. If you need to convert a currency not listed, try converting it through a common intermediary currency like USD or EUR.
This currency converter is completely free to use. We don't charge any fees or add any margins to the exchange rates. However, remember that when you actually exchange money through a bank, exchange bureau, or money transfer service, they will charge fees or apply a markup to the rate.
If your credit card charges a 3% foreign transaction fee, simply multiply the converted amount by 1.03. For example, if you're buying something for โฌ100 and it converts to $109, the actual cost with a 3% fee would be $109 ร 1.03 = $112.27. This fee is in addition to any markup already applied to the exchange rate.
The buying rate (bid) is what the exchange service will pay you for foreign currency, while the selling rate (ask) is what they charge you to buy foreign currency. The difference between these rates is called the "spread" and represents the exchange service's profit margin. Our converter shows the mid-market rate, which is exactly between these two rates.