Convert between 30+ world currencies using approximate mid-market exchange rates.
Exchange rates represent how much one currency is worth in terms of another. If the EUR/USD rate is 1.08, one euro buys 1.08 U.S. dollars. Rates fluctuate constantly based on economic factors including interest rates, inflation, trade balances, and market sentiment. The rate you see in the news (the mid-market rate) is different from the rate you actually get when exchanging money, because banks and exchange services add a markup.
Select the currency you are converting from and to, enter the amount, and the calculator shows the converted value at the current mid-market exchange rate. You can also enter a custom rate if you want to use a specific bank or service rate. The calculator supports all major world currencies.
The mid-market rate (what Google or XE.com shows) is the baseline. Banks and exchange services add a margin of 1-3% or more. Airport exchange booths are typically the worst option, with markups of 5-10%+. Credit cards with no foreign transaction fee usually offer rates within 0.5-1% of the mid-market rate, making them the best option for most travelers. ATMs abroad often provide better rates than exchange offices but may charge fixed withdrawal fees.
Exchange rates are determined by supply and demand in the foreign exchange (forex) market, the largest financial market in the world with over $7.5 trillion in daily trading volume. Major factors influencing exchange rates include interest rate differentials between countries, inflation rates, trade balances, political stability, and economic growth. When a country's central bank raises interest rates, its currency typically strengthens as foreign capital flows in seeking higher returns.
The rate you see quoted online (the "mid-market rate" or "interbank rate") is the midpoint between buy and sell prices that banks charge each other. When you exchange currency through a bank, airport kiosk, or credit card, a markup of 1-5% is applied. Credit cards typically offer the best consumer exchange rates (0.5-3% above interbank), followed by online services like Wise (0.3-2%), while airport kiosks and hotel exchange desks charge the highest margins (5-12%). For international travel, using a no-foreign-transaction-fee credit card is almost always the cheapest way to pay abroad.
The most traded currency pairs (called "majors") are EUR/USD, USD/JPY, GBP/USD, and USD/CHF. These pairs account for approximately 75% of all forex trading volume. The U.S. dollar is involved in approximately 88% of all forex transactions, reflecting its role as the world's primary reserve currency. Exchange rates fluctuate continuously during market hours (24 hours a day, 5 days a week), so conversion amounts change in real time. The Inflation Calculator shows how purchasing power changes over time within a single currency.
For businesses dealing in multiple currencies, hedging against exchange rate fluctuations is essential. Forward contracts lock in an exchange rate for a future date, eliminating uncertainty for planned transactions. Options contracts provide the right (but not obligation) to exchange at a specified rate, offering flexibility at a premium cost. Even travelers can benefit from a basic hedging strategy: converting a portion of funds before the trip at a known rate while keeping the remainder for conversion at potentially better rates later.