Currency Converter

How to Use This Converter

1. Enter an amount — type the value you want to convert in the source currency.
2. Select currencies — choose your "From" and "To" currencies from the dropdown menus, or use the swap button to reverse them.
3. Read your result — the converted amount appears instantly, along with the exchange rate in both directions.
4. Explore the rate table — see how your base currency converts against all 28 currencies at once.

How Exchange Rates Work

An exchange rate tells you how much one currency is worth in terms of another. When you see "1 USD = 0.92 EUR," it means one US dollar can buy 0.92 euros at the current mid-market rate.

Exchange rates are determined by the foreign exchange market (forex), the largest financial market in the world with over $7.5 trillion traded daily. Rates fluctuate based on supply and demand, which are influenced by economic indicators, interest rates, geopolitical events, and market sentiment.

There are two types of exchange rate systems: floating rates, where the market determines the value (USD, EUR, GBP, JPY), and pegged rates, where a government fixes the rate to another currency (e.g., the UAE Dirham is pegged to the USD at approximately 3.67).

When exchanging money, you'll typically encounter three different rates: the mid-market rate (the real rate, shown in this converter), the buy rate (what a dealer will pay you), and the sell rate (what a dealer charges you). The difference — called the spread — is how currency exchange providers make money.

To get the best exchange rate when traveling or sending money internationally, compare rates from multiple providers. Online services like Wise and Revolut typically offer rates much closer to mid-market than traditional banks, which may add a 2–5% markup.

Frequently Asked Questions

Where do the exchange rates come from?

Our rates are sourced from the ExchangeRate-API, which aggregates data from central banks and commercial sources worldwide. Rates are updated daily and reflect mid-market rates — the midpoint between buy and sell prices on the global currency market. These are not the rates banks or transfer services offer, which typically include a markup.

What is the mid-market exchange rate?

The mid-market rate (also called the interbank rate or spot rate) is the midpoint between the buy and sell prices of two currencies on the open market. It's considered the 'real' exchange rate. Banks and money transfer services typically add a margin of 1–5% on top of this rate. Services like Wise (formerly TransferWise) offer rates very close to mid-market.

Why is my bank's rate different from this converter?

Banks add a markup (spread) to the mid-market rate to generate profit on currency exchange. This markup typically ranges from 1% for major currency pairs (USD/EUR) to 5% or more for exotic currencies. Additionally, banks may charge a flat fee per transaction. To get the best rates, compare offerings from banks, credit unions, and online services like Wise, Revolut, or OFX.

Which currencies have the highest exchange volume?

The US Dollar (USD) is by far the most traded currency, involved in about 88% of all forex transactions. The Euro (EUR) is second at 31%, followed by the Japanese Yen (JPY) at 17%, British Pound (GBP) at 13%, and Australian Dollar (AUD) at 7%. The USD/EUR pair alone accounts for about 24% of global forex volume.

How often do exchange rates change?

In the forex market, rates change continuously — multiple times per second during trading hours. The forex market operates 24 hours a day, 5 days a week, across major financial centers (London, New York, Tokyo, Sydney). Our rates are updated daily, which is sufficient for planning and estimation purposes. For time-sensitive transactions, check rates at the moment of transfer.

What factors affect exchange rates?

Exchange rates are influenced by: interest rate differentials between countries, inflation rates, trade balances (imports vs exports), political stability, economic performance (GDP growth, employment), central bank monetary policy, and market speculation. Major events like elections, trade agreements, or economic crises can cause rapid rate fluctuations.

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