Convert currencies with our free currency converter calculator. Get real-time exchange rates for major world currencies and calculate accurate conversions.
Currency exchange rates determine how much one currency is worth in terms of another. These rates fluctuate constantly based on economic factors, political events, and market sentiment.
Exchange rates are determined by:
The world's primary reserve currency, used in most international transactions.
The official currency of 19 European Union countries, second most traded currency.
One of the oldest currencies still in use, known for its stability.
Major Asian currency, often used as a safe haven during market volatility.
Several factors influence currency exchange rates:
When dealing with currency exchange:
To convert currency, multiply the amount by the exchange rate. For example, to convert $100 USD to EUR at a rate of 0.85: $100 × 0.85 = €85. The formula is: Converted Amount = Original Amount × Exchange Rate.
Exchange rates change due to supply and demand in the foreign exchange market. Factors include economic data releases, central bank announcements, political events, and market sentiment. The forex market operates 24/7, causing continuous fluctuations.
Banks and exchange services offer different rates for buying and selling currencies. The buying rate is what they pay you for your currency, while the selling rate is what they charge you. The difference (spread) is their profit margin.
Online converters provide real-time or near real-time rates, but actual exchange rates may vary due to fees, spreads, and market conditions. For large transactions, it's best to check with your bank or exchange service for exact rates.
Exchange rates fluctuate throughout the day. Generally, rates are most volatile during market overlap hours (when multiple markets are open). Avoid exchanging during major economic announcements or political events when rates can be unpredictable.
To minimize costs: compare rates from multiple sources, avoid airport exchanges (high fees), use credit cards with no foreign transaction fees, consider online currency services, and exchange larger amounts to reduce per-transaction fees.