Currency Converter

What is a currency converter?

A currency converter calculates the equivalent value of money in different currencies using current exchange rates. Whether you are traveling abroad, shopping on international websites, sending money overseas, or managing a business with foreign clients, knowing the current exchange rate helps you make informed financial decisions.

Exchange rates fluctuate constantly based on supply and demand in the foreign exchange (forex) market. Central bank policies, economic indicators, geopolitical events, and market sentiment all influence rates. This tool uses up-to-date rates to provide accurate conversions between major world currencies.

How to use this tool

Select the source and target currencies, enter the amount, and see the converted value instantly. The tool displays the current exchange rate and the inverse rate. You can swap currencies with one click. All major currencies are supported including USD, EUR, GBP, JPY, CHF, CAD, AUD, and many more.

Understanding exchange rates

• Floating rates — most major currencies fluctuate freely based on market forces (USD, EUR, GBP, JPY).
• Fixed/pegged rates — some currencies are fixed to another currency, typically the US dollar (like the Hong Kong dollar).
• Bid/ask spread — banks and exchange services buy currency at a lower rate (bid) and sell at a higher rate (ask). The difference is their profit.
• Mid-market rate — the midpoint between bid and ask. This is the 'real' rate shown by converters. Actual exchange services add a markup.

Tips for getting the best exchange rate

Avoid airport exchange counters — they typically offer the worst rates with high fees. Use your bank's ATM abroad for better rates. Compare multiple exchange services before converting large amounts. Be aware of dynamic currency conversion at foreign shops (always choose to pay in the local currency). For large transfers, consider services like Wise or OFX that offer near mid-market rates.

Frequently asked questions

How often do exchange rates change?

In the forex market, rates change continuously during trading hours (24 hours a day, 5 days a week). This tool updates rates periodically throughout the day. For casual conversions, the rate shown is accurate enough. For large financial transactions, check with your bank or exchange service for the exact rate they offer at the time of the transaction.

Why is the rate I get at a bank different from what this tool shows?

This tool shows the mid-market rate (the real exchange rate). Banks add a markup (typically 1-5%) and may charge additional fees. The markup is how banks profit from currency exchange. Some online services like Wise offer rates very close to the mid-market rate with transparent, low fees.