Currency Converter
Convert between major world currencies. Enter rates manually or use the reference table for common pairs.
This calculator uses the rate you enter rather than a live feed, which means you control the accuracy. Exchange rates change constantly and vary between sources. For any real transaction, always check the current interbank rate and factor in the spread your bank or exchange service charges.
The rate you get is almost never the interbank rate. Banks typically add a 1-3% margin. Airport exchanges add 5-10%. Debit cards used abroad often get rates close to the interbank rate with a small foreign transaction fee (1-3%), making them among the cheapest options for travelers.
Interbank vs retail rates
The interbank rate (also called the mid-market rate or spot rate) is the rate banks charge each other. It is the rate you see on Google or XE.com. Retail customers almost never get this rate. The difference between the interbank rate and what you actually receive is the "spread" or margin the exchange service earns. Comparing the spread across services (bank, credit card, cash exchange, wire transfer) is the most important step before any currency exchange.
Best options for travelers
Credit cards with no foreign transaction fees and debit cards that reimburse ATM fees typically offer the best exchange rates for travelers. They access near-interbank rates with only the card network's standard conversion. Avoid airport currency exchanges, hotel exchanges, and any service advertising "no commission" (they make their margin in the rate, not a visible fee). Pre-ordering foreign currency from your bank is usually cheaper than airport exchange but more expensive than using your debit card at an ATM abroad.
Wire transfers and business payments
For larger international payments, specialist currency brokers (Wise, OFX, Currencies Direct) typically offer better rates than banks for wire transfers. On $10,000, a 1% rate difference is $100. On larger business transactions, negotiating the exchange rate with your bank or using a specialist broker can save meaningful money.
Frequently asked questions
Why do exchange rates change constantly?
Currency values fluctuate based on interest rate differentials between countries, inflation rates, trade balances, capital flows, and market sentiment. Major currency pairs (EUR/USD, GBP/USD) trade 24 hours a day in a global market. Political events, central bank announcements, and economic data releases can cause rapid rate movements.
What is a pip?
A pip (percentage in point) is the smallest standard price movement in currency trading. For most pairs, one pip equals 0.0001 (the fourth decimal place). For yen pairs, one pip equals 0.01. Forex traders track gains and losses in pips; for travelers, pips are irrelevant but the concept explains why exchange rates are quoted to four decimal places.