Currency Converter
Convert between 30 world currencies using live exchange rates from the European Central Bank. See also Exchange Rate Calculator and Percentage Calculator.
What is a Currency Converter?
A currency converter is a tool that calculates how much one currency is worth in terms of another using current exchange rates. Whether you are traveling abroad, shopping from international websites, sending money overseas, or managing a business with foreign transactions, a currency converter helps you understand the exact value of your money in another currency. This converter uses live rates from the European Central Bank, updated daily on business days, ensuring you always have accurate reference rates.
How the Currency Converter Works
Enter the amount you want to convert, select the source currency (From) and target currency (To), then click Convert. The tool fetches the latest exchange rate from the European Central Bank via the Frankfurter API and calculates the converted amount instantly. The historical chart shows how the exchange rate has moved over the past 30 days, 90 days, or 1 year — helping you decide whether to convert now or wait for a better rate.
Currency Conversion Formula
Converted Amount = Amount × Exchange Rate
Inverse Rate = 1 / Exchange Rate
Cross Rate (A to C via B):
Rate(A→C) = Rate(A→B) × Rate(B→C)
Example
Convert 1,000 USD to EUR
Rate: 1 USD = 0.9200 EUR
1,000 × 0.9200 = 920.00 EUR
Inverse: 1 EUR = 1.0870 USD
What Affects Exchange Rates?
Exchange rates are influenced by multiple economic and political factors:
Interest Rate Differentials
Countries with higher interest rates attract foreign capital, strengthening their currency. When the US Federal Reserve raises rates, the USD typically strengthens against other currencies.
Inflation Rates
Lower inflation typically strengthens a currency because purchasing power erodes more slowly. Countries with consistently low inflation tend to see currency appreciation over time.
Trade Balance
Countries that export more than they import create demand for their currency, strengthening it. A trade surplus supports currency value, while a deficit weakens it.
Political Stability & Economic Performance
Stable governments and strong economic growth attract foreign investment, increasing demand for the local currency. Political uncertainty or recession weakens a currency.
Central Bank Policy
Central banks influence exchange rates through monetary policy (interest rates, quantitative easing) and direct intervention (buying/selling their own currency in forex markets).
How to Get the Best Exchange Rate
Getting the best exchange rate requires comparing multiple providers and timing your conversion wisely. Here are practical tips:
1. Compare providers: Banks typically offer the worst rates. Online services like Wise (TransferWise), Revolut, and OFX offer rates much closer to the mid-market rate shown here.
2. Avoid airport exchanges: Airport currency exchange counters have the highest markups — often 5-10% worse than the mid-market rate.
3. Use the historical chart: Check if the rate is near a recent high or low. If the rate is favorable compared to the past 30-90 days, it may be a good time to convert.
4. Use no-fee credit cards abroad: Credit cards with no foreign transaction fees often give rates very close to the mid-market rate — better than cash exchange.
5. Convert larger amounts at once: Many services offer better rates for larger transfers. Consolidating multiple small conversions into one larger one can save money.
Popular Currency Pairs
| Currency Pair | Name | Daily Volume | Typical Spread |
|---|---|---|---|
| EUR/USD | Euro / US Dollar | ~$1.7 trillion | 0.1-1 pip |
| USD/JPY | US Dollar / Japanese Yen | ~$1.0 trillion | 0.1-1 pip |
| GBP/USD | British Pound / US Dollar | ~$630 billion | 0.5-2 pips |
| USD/CHF | US Dollar / Swiss Franc | ~$400 billion | 1-2 pips |
| AUD/USD | Australian Dollar / US Dollar | ~$350 billion | 1-2 pips |
| USD/CAD | US Dollar / Canadian Dollar | ~$320 billion | 1-2 pips |
| USD/CNY | US Dollar / Chinese Yuan | ~$270 billion | 2-5 pips |
| USD/INR | US Dollar / Indian Rupee | ~$100 billion | 2-5 pips |
Supported Currencies
This converter supports 30 currencies published by the European Central Bank: USD (US Dollar), EUR (Euro), GBP (British Pound), JPY (Japanese Yen), AUD (Australian Dollar), CAD (Canadian Dollar), CHF (Swiss Franc), CNY (Chinese Yuan), INR (Indian Rupee), KRW (South Korean Won), BRL (Brazilian Real), MXN (Mexican Peso), SGD (Singapore Dollar), HKD (Hong Kong Dollar), SEK (Swedish Krona), NOK (Norwegian Krone), ZAR (South African Rand), NZD (New Zealand Dollar), TRY (Turkish Lira), PLN (Polish Zloty), THB (Thai Baht), IDR (Indonesian Rupiah), MYR (Malaysian Ringgit), PHP (Philippine Peso), CZK (Czech Koruna), DKK (Danish Krone), HUF (Hungarian Forint), RON (Romanian Leu), ILS (Israeli Shekel), and ISK (Icelandic Króna).
Types of Exchange Rates
Understanding the different types of exchange rates helps you make better financial decisions when converting currency:
Spot Rate (Mid-Market Rate)
The current market price for immediate delivery of a currency. This is the rate shown on this converter — the fairest rate available, calculated as the midpoint between buy and sell prices on the interbank market. No single party profits from this rate.
Buy Rate (Bid Price)
The rate at which a bank or exchange service will buy foreign currency from you. This is always lower than the mid-market rate — the difference is part of their profit margin.
Sell Rate (Ask Price)
The rate at which a bank or exchange service will sell foreign currency to you. This is always higher than the mid-market rate. The gap between buy and sell rates is called the spread.
Forward Rate
A rate agreed upon today for a currency exchange that will occur at a future date. Used by businesses to hedge against currency risk. Forward rates factor in interest rate differentials between the two currencies.
Fixed vs Floating Exchange Rates
Most major currencies (USD, EUR, GBP, JPY) use floating rates determined by market forces. Some currencies are pegged (fixed) to another currency — for example, the Hong Kong Dollar is pegged to the USD at approximately 7.80 HKD per 1 USD, maintained by the Hong Kong Monetary Authority.
Quick Conversion Reference Table
Common conversion amounts for frequently searched currency pairs (rates are approximate and change daily — use the converter above for live rates):
| Amount | USD → EUR | USD → GBP | USD → INR | USD → JPY |
|---|---|---|---|---|
| $1 | 0.92 | 0.79 | 83.50 | 154.50 |
| $10 | 9.20 | 7.90 | 835 | 1,545 |
| $50 | 46.00 | 39.50 | 4,175 | 7,725 |
| $100 | 92.00 | 79.00 | 8,350 | 15,450 |
| $500 | 460.00 | 395.00 | 41,750 | 77,250 |
| $1,000 | 920.00 | 790.00 | 83,500 | 154,500 |
| $5,000 | 4,600 | 3,950 | 417,500 | 772,500 |
| $10,000 | 9,200 | 7,900 | 835,000 | 1,545,000 |
* Approximate values for reference only. Use the converter above for current live rates.
Currency Converter for Travel
Planning an international trip? Here is how to use currency conversion to your advantage and avoid overpaying:
Before your trip: Check the exchange rate trend using the historical chart above. If the rate is favorable (near a 30-day high in your favor), consider exchanging some cash before departure. Order foreign currency from your bank 3-5 days in advance for better rates than airport exchanges.
At your destination: Use ATMs affiliated with major banks for the best rates. Decline Dynamic Currency Conversion (DCC) when offered at point-of-sale terminals — always pay in the local currency to get your bank's rate rather than the merchant's inflated rate.
Credit vs debit cards: Cards with no foreign transaction fees (like Chase Sapphire, Capital One Venture, or Wise debit card) typically give rates within 0.5% of the mid-market rate. This is almost always better than cash exchange.
How much to exchange: A good rule of thumb is to carry 20-30% of your travel budget in local cash for small purchases, tips, and emergencies. Use cards for larger purchases like hotels and restaurants.
Leftover currency: If you have leftover foreign currency after your trip, convert it back promptly. Exchange rates fluctuate, and holding foreign cash means you bear the risk of depreciation plus you will pay the spread again when converting back.
Currency Converter for Business
Businesses dealing with international transactions face unique currency challenges. Here is how to manage foreign exchange effectively:
Invoice in your own currency: When possible, invoice clients in your home currency to eliminate exchange rate risk. If you must invoice in foreign currency, use the current mid-market rate plus a small buffer (1-2%) to account for rate fluctuations between invoicing and payment.
Batch payments: Instead of converting small amounts frequently (paying the spread each time), batch international payments together. Most business FX services offer better rates for larger transfers.
Forward contracts: If you know you will need to pay a foreign supplier in 30, 60, or 90 days, consider a forward contract to lock in today's rate. This eliminates uncertainty and helps with budgeting.
Multi-currency accounts: Services like Wise Business, Payoneer, and Mercury offer multi-currency accounts where you can hold balances in multiple currencies. This lets you receive payments in foreign currencies and convert only when rates are favorable.
Understanding Mid-Market vs Bank Rates
The mid-market rate (also called the interbank rate) is the midpoint between the buy and sell prices on the global currency market. It is the fairest rate available and is what you see on this converter. However, when you actually exchange money, banks and services add a markup (spread) to this rate — that is their profit. The spread varies: online services like Wise charge 0.3-1%, traditional banks charge 2-5%, and airport exchanges can charge 5-12%. Always compare the rate you are offered against the mid-market rate shown here to understand how much markup you are paying.
Frequently Asked Questions
How often are exchange rates updated?
Rates are updated daily around 16:00 CET on business days by the European Central Bank. Weekend and holiday rates reflect the last available business day. In the live forex market, rates change every second, but ECB reference rates provide a reliable daily benchmark.
Are these rates the same as what my bank offers?
No. These are mid-market reference rates. Banks add a spread (markup) of typically 2-5% on top of this rate. Online services like Wise or Revolut offer rates much closer to the mid-market rate (0.3-1% markup). Always compare the rate you are offered against the mid-market rate to see how much you are being charged.
What is the best time to convert currency?
There is no universally best time, as rates fluctuate based on economic events. However, you can use the historical chart on this page to see if the current rate is favorable compared to recent history. If the rate is near a 30-day or 90-day high (in your favor), it may be a good time to convert. Avoid converting during major economic announcements when rates are volatile.
Why are some currencies not available?
This converter uses ECB reference rates, which cover 30 major currencies. Some currencies like AED (UAE Dirham), SAR (Saudi Riyal), and RUB (Russian Ruble) are not published by the ECB. For those currencies, check specialized forex services or use the static reference rates on our Exchange Rate Calculator page.
Can I use these rates for international money transfers?
These rates are reference rates for informational purposes. For actual transfers, use a service like Wise, OFX, or your bank. The rate you receive will include a spread. Use this converter to check the mid-market rate first, then compare it to what your transfer service offers to understand their markup.
What is a cross rate?
A cross rate is the exchange rate between two currencies calculated through a third currency (usually USD or EUR). For example, to convert GBP to JPY, the system converts GBP to EUR first, then EUR to JPY. Most currency pairs that do not directly involve USD or EUR are calculated this way in the forex market.
How do I read the historical chart?
The chart shows how the exchange rate has moved over time. An upward trend means the target currency is getting more expensive (your source currency is weakening). A downward trend means the target currency is getting cheaper (your source currency is strengthening). The Low, Average, and High values help you understand the rate range over the selected period.
What is the difference between a currency converter and an exchange rate calculator?
A currency converter shows you how much one currency is worth in another at the current live rate. An exchange rate calculator typically helps you understand the rate itself — comparing rates from different providers, calculating cross rates, or determining how much markup a service is charging. Our Exchange Rate Calculator focuses on rate comparison and analysis.
How accurate is this currency converter?
This converter uses official reference rates published by the European Central Bank (ECB), which are widely used as a benchmark by financial institutions worldwide. The rates are accurate to 4-6 decimal places. However, the actual rate you receive when exchanging money will differ due to the spread charged by your provider.
What is purchasing power parity (PPP)?
PPP is an economic theory that suggests exchange rates should adjust so that identical goods cost the same in different countries. In practice, exchange rates deviate from PPP due to trade barriers, transportation costs, and non-tradeable services. The Big Mac Index (published by The Economist) is a popular informal measure of PPP — comparing the price of a Big Mac across countries to see which currencies are over or undervalued.
World Currency Symbols Reference
| Code | Symbol | Currency | Country/Region |
|---|---|---|---|
| USD | $ | US Dollar | United States |
| EUR | € | Euro | Eurozone (20 countries) |
| GBP | £ | British Pound | United Kingdom |
| JPY | ¥ | Japanese Yen | Japan |
| INR | ₹ | Indian Rupee | India |
| CNY | ¥ | Chinese Yuan | China |
| AUD | A$ | Australian Dollar | Australia |
| CAD | C$ | Canadian Dollar | Canada |
| CHF | CHF | Swiss Franc | Switzerland |
| KRW | ₩ | South Korean Won | South Korea |
| BRL | R$ | Brazilian Real | Brazil |
| MXN | MX$ | Mexican Peso | Mexico |
| SGD | S$ | Singapore Dollar | Singapore |
| HKD | HK$ | Hong Kong Dollar | Hong Kong |
| TRY | ₺ | Turkish Lira | Turkey |
| PLN | zł | Polish Zloty | Poland |