Convert money between world currencies.
Enter an amount and pick two currencies to see the converted value, the exchange rate and its inverse. Rates are indicative, so edit the rate field for the exact number your bank quotes.
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Your amount in major currencies
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How currency exchange works
How Currency Exchange Rates Work
Currency exchange rates represent the price of one currency expressed in terms of another. These rates are determined by the foreign exchange (forex) market, where currencies are traded 24 hours a day across global financial centers. Most major currencies use floating exchange rates that fluctuate based on supply and demand, while some countries peg their currency to a stable reference like the U.S. dollar. Understanding how rates are quoted, including the difference between bid and ask prices, helps you make smarter decisions when converting money.
Factors That Affect Exchange Rates
Exchange rates are influenced by a complex mix of economic indicators, including interest rates set by central banks, inflation levels, and GDP growth. Countries with higher interest rates tend to attract more foreign investment, strengthening their currency. Political stability, trade balances, and government debt also play significant roles, a country running a large trade deficit may see its currency weaken over time. Global events like recessions, pandemics, and geopolitical conflicts can cause sudden and dramatic shifts in currency values.
Getting the Best Exchange Rate When Traveling
When traveling abroad, the exchange rate you receive can vary significantly depending on where and how you convert your money. Airport currency exchange kiosks typically offer the worst rates, with markups of 5% to 15% above the mid-market rate. Using a debit card at local ATMs generally provides rates much closer to the interbank rate, though your bank may charge a foreign ATM fee. Credit cards with no foreign transaction fees are often the most convenient and cost-effective option for purchases while traveling.
Understanding Foreign Transaction Fees
Foreign transaction fees are charges imposed by banks and credit card companies when you make a purchase in a foreign currency or through a foreign bank. These fees typically range from 1% to 3% of the transaction amount and are added on top of the exchange rate spread. Many premium travel credit cards have eliminated these fees entirely, making them a popular choice for frequent travelers and international online shoppers. Always check your card's fee schedule before traveling, as even small percentage fees can add up quickly on a longer trip.
Common questions
Are these exchange rates live?
No, this calculator uses approximate exchange rates for estimation purposes. Actual exchange rates fluctuate constantly during market hours. For current rates, check your bank, a financial data provider, or a dedicated currency exchange service.
Where can I get the best exchange rate?
Banks and credit unions typically offer better rates than airport kiosks or hotel exchanges. Credit cards with no foreign transaction fees often provide rates close to the interbank rate. Avoid exchanging cash at tourist locations where markups can be 10% or more.
What is the interbank exchange rate?
The interbank rate, also called the mid-market rate, is the wholesale rate at which banks trade currencies with each other. It is the fairest rate available. Consumer exchange services add a markup of 1% to 5% on top of this rate.
Should I exchange currency before or during my trip?
Using a no-foreign-transaction-fee credit card abroad is usually cheapest. If you need cash, exchange a small amount before you leave and use ATMs at your destination for more. Avoid exchanging large amounts at airports or hotels where rates are worst.
Indicative rates only. Real exchange rates move every second and banks add a spread of 2% to 4%. Update the rate field for exact figures.