Currency Converter — Exchange Rates
Convert between major world currencies with customizable exchange rates.
Convert between 20 major world currencies (approximate rates)
What Is the Currency Converter — Exchange Rates?
The Currency Converter converts amounts between 20 major world currencies using approximate exchange rates relative to the US Dollar as a base. Select the source and target currencies, enter an amount, and get the converted value instantly.
Formula
How to Use
Select the currency you're converting from and the currency you want to convert to. Enter the amount. Click Convert to see the result along with the exchange rate used. Note: rates are approximate and may not reflect current live market rates.
Example Calculation
Convert 100 EUR to GBP: EUR/USD rate ≈ 1.09 → 100 EUR = $109 USD GBP/USD rate ≈ 1.27 → $109 / 1.27 ≈ 85.83 GBP Convert 1000 USD to JPY: USD/JPY rate ≈ 149.5 → 1000 × 149.5 ≈ 149,500 JPY
Understanding Currency Converter — Exchange Rates
The foreign exchange (forex) market is the largest financial market in the world, with over $7 trillion traded daily. Exchange rates are determined by supply and demand in this global, decentralized market.
Currency conversion is essential for international travel, import/export pricing, foreign investment valuation, and multinational financial reporting. A small change in exchange rates can have major impacts on large international transactions.
Purchasing Power Parity (PPP) is an alternative way to compare currencies based on what they can buy. A "Big Mac Index" (popularized by The Economist) uses hamburger prices as a proxy for PPP, showing which currencies are overvalued or undervalued relative to the dollar.
Frequently Asked Questions
Are these live exchange rates?
No. This tool uses approximate reference rates for educational and estimation purposes. For live rates for financial transactions, use a bank, broker, or a service with real-time data feeds.
What is an exchange rate?
An exchange rate is the price of one currency in terms of another. For example, if EUR/USD = 1.09, one Euro costs 1.09 US Dollars.
What is a bid-ask spread?
When you exchange currency through a bank or exchange bureau, the rate you receive (ask price) is worse than the mid-market rate. The difference is the spread — the provider's profit margin.
Why do exchange rates change?
Exchange rates fluctuate due to interest rate differentials, inflation, trade balances, political events, and market speculation. They can change by the second in currency markets.
Which currencies are most traded?
The most traded currencies are USD (US Dollar), EUR (Euro), JPY (Japanese Yen), GBP (British Pound), and CHF (Swiss Franc). USD is involved in ~88% of all forex trades.
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