How to Use the Currency Converter
Our currency converter makes it easy to convert between any two currencies with just a few clicks. Whether you're planning international travel, conducting business transactions, or simply curious about exchange rates, this tool provides instant, accurate conversions.
Step-by-Step Guide
Select Your Source Currency
Choose the currency you currently have or want to convert from. The dropdown menu includes 30+ major world currencies including USD, EUR, GBP, JPY, and many more.
Enter the Amount
Type in the amount you wish to convert. You can enter any positive number, and the conversion will update automatically as you type.
Select Your Target Currency
Choose the currency you want to convert to. The converted amount will be calculated instantly using current exchange rates.
View Exchange Rates
Below the conversion, you'll see the current exchange rate and inverse rate, helping you understand the value relationship between the two currencies.
Bidirectional Conversion
One of the powerful features of this converter is bidirectional conversion. You can enter amounts in either the "From" or "To" field, and the calculator will automatically update the other field. This is particularly useful when you know how much of the target currency you need and want to calculate how much of your source currency you'll need to exchange.
Swap Currencies
Click the swap button between the two currency fields to instantly reverse the conversion direction. This is helpful when you want to quickly see the conversion both ways without manually changing your selections.
Pro Tip: Use the quick conversion buttons below the calculator to instantly set up common currency pairs like USD to EUR, USD to GBP, or EUR to USD with a preset amount of 100 units.
Understanding Exchange Rates
Exchange rates represent the value of one currency in terms of another. They are fundamental to international trade, travel, and investment, and understanding how they work can help you make better financial decisions.
What Determines Exchange Rates?
Exchange rates are determined by various factors in the global financial markets:
- Supply and Demand: The most basic factor - higher demand for a currency increases its value
- Interest Rates: Higher interest rates attract foreign capital, increasing currency value
- Inflation: Lower inflation typically strengthens a currency relative to others
- Economic Growth: Strong economic performance generally leads to currency appreciation
- Political Stability: Countries with stable governments tend to have stronger currencies
- Trade Balance: Countries with trade surpluses often see their currencies strengthen
- Government Debt: High national debt can weaken a currency
- Speculation: Trader expectations about future movements can impact current rates
Types of Exchange Rate Systems
Floating Exchange Rate
Most major currencies (USD, EUR, GBP, JPY) use floating rates determined by market forces. Rates fluctuate constantly based on supply and demand in currency markets.
Fixed (Pegged) Exchange Rate
Some countries peg their currency to another currency (usually USD or EUR) or a basket of currencies. The government maintains the fixed rate through currency reserves and monetary policy.
Managed Float
A hybrid system where the currency mostly floats freely, but the central bank intervenes occasionally to prevent extreme fluctuations or maintain competitiveness.
Reading Exchange Rates
Exchange rates are typically quoted in two ways:
Direct Quote
Shows how much of your domestic currency you need to buy one unit of foreign currency.
Example: 1 EUR = 1.09 USD (from US perspective)Indirect Quote
Shows how much foreign currency you can buy with one unit of domestic currency.
Example: 1 USD = 0.92 EUR (from US perspective)Important Note: The exchange rates displayed in this calculator are representative mid-market rates. When actually exchanging money through banks or exchange services, you'll encounter bid-ask spreads and service fees that make the effective rate less favorable.
Popular Currency Conversions
Some currency pairs are more commonly traded and converted than others. Here's a guide to the most popular currency conversions and what you should know about each.
Major Currency Pairs
| Pair | Name | Current Rate | Common Use |
|---|---|---|---|
| EUR/USD | Euro to US Dollar | 1 EUR = 1.0870 USD | Travel, business |
| USD/JPY | US Dollar to Japanese Yen | 1 USD = 149.50 JPY | Trade, tourism |
| GBP/USD | British Pound to US Dollar | 1 GBP = 1.2658 USD | Financial markets |
| USD/CHF | US Dollar to Swiss Franc | 1 USD = 0.8800 CHF | Safe haven trades |
| AUD/USD | Australian Dollar to US Dollar | 1 AUD = 0.6579 USD | Commodity trading |
Regional Currency Conversions
European Travel
- USD to EUR (US to Eurozone)
- GBP to EUR (UK to Eurozone)
- CHF to EUR (Switzerland to Eurozone)
Asian Markets
- USD to CNY (US to China)
- USD to INR (US to India)
- USD to JPY (US to Japan)
Americas
- USD to CAD (US to Canada)
- USD to MXN (US to Mexico)
- USD to BRL (US to Brazil)
Middle East
- USD to AED (US to UAE)
- USD to SAR (US to Saudi Arabia)
- EUR to AED (Europe to UAE)
Travel Tip: Major currency pairs typically have lower exchange fees and better rates than exotic pairs. If possible, convert to major currencies first, then to your final destination currency.
Currency Exchange for Travel
Getting the best exchange rates and minimizing fees can save you significant money when traveling internationally. Here's what you need to know about currency exchange for travel.
Where to Exchange Currency
Best Options
- ATMs: Usually offer the best rates, close to mid-market rates with minimal markup
- Local Banks: Good rates but may charge non-customer fees
- Credit Cards: Convenient for purchases, check for foreign transaction fees
- Online Services: Companies like Wise (TransferWise) offer competitive rates
Avoid These
- Airport Kiosks: Often 5-15% worse rates than banks
- Hotels: Convenient but typically poor exchange rates
- Tourist Areas: Exchange offices in tourist zones usually have high fees
- Dynamic Currency Conversion: When merchants offer to charge in your home currency
Money-Saving Travel Tips
Before You Travel
- Notify your bank of travel plans
- Get a no-foreign-transaction-fee credit card
- Exchange small amount for immediate expenses
- Research ATM fees at your destination
While Traveling
- Withdraw larger amounts less frequently
- Always choose to be charged in local currency
- Use ATMs in banks for better security
- Keep exchange receipts for records
Understanding Fees and Spreads
When exchanging currency, you'll encounter several types of fees:
Exchange Rate Margin (Spread)
The difference between the mid-market rate and the rate you're offered. Can range from 0.5% (ATMs) to 10%+ (airports).
Service Fees
Fixed fees charged per transaction, typically $2-$10. Can add up on small exchanges.
ATM Fees
Your bank may charge $3-$5 per withdrawal, plus the foreign ATM's fee (varies by country).
Credit Card Foreign Transaction Fee
Usually 3% of the transaction amount, though many cards now waive this fee.
Pro Strategy: For major trips, consider opening a high-yield travel credit card with no foreign transaction fees and ATM fee reimbursements. The savings can easily exceed $100 on a typical international vacation.
How We Calculate Currency Conversions
Our currency converter uses accurate, regularly updated exchange rates to provide reliable currency conversions for financial planning, travel budgeting, and international transactions.
Conversion Formula
Basic Conversion Calculation:
Target Amount = Source Amount × (Target Rate / Source Rate)Example Calculation:
Convert $100 USD to EUR
EUR Amount = 100 USD × (0.92 EUR/USD / 1.00 USD/USD)EUR Amount = 100 × 0.92EUR Amount = 92.00 EURExchange Rate Base
Our exchange rates use USD as the base currency (USD = 1.00). All other currencies are quoted relative to the US dollar. This standardized approach ensures consistency across all conversions.
Cross-Currency Calculations
When converting between two non-USD currencies, we calculate through USD as an intermediary:
Example: EUR to GBP
1. EUR to USD: 1 EUR = 1.09 USD (1 ÷ 0.92)2. USD to GBP: 1.09 USD × 0.79 = 0.86 GBPResult: 1 EUR = 0.86 GBPBidirectional Conversion
Our calculator supports bidirectional conversion, allowing you to enter amounts in either field. When you modify the target amount, we calculate the inverse conversion:
Source Amount = Target Amount × (Source Rate / Target Rate)Source Amount = Target Amount ÷ Exchange RatePrecision and Rounding
We calculate all conversions to high precision and display results rounded to two decimal places for most currencies. For currencies with very small denominations (like Japanese Yen), we use appropriate rounding to reflect practical usage.
Data Source: Our exchange rates are representative mid-market rates based on global financial market data. These rates are updated regularly to reflect current market conditions. Actual rates you receive when exchanging money will vary based on the service provider and may include additional fees or margins.