Currency Converter Guide: Exchange Rates & Foreign Currency Calculator
A currency converter changes an amount from one currency to another using an exchange rate. Enter an amount and pick the from and to currencies; the tool applies the current rate and shows the converted value.
What is Currency Converter?
The currency converter helps travelers, shoppers, and businesses estimate prices across currencies. You can apply a provider fee/spread to simulate card or bank rates and see the effective cost.
How to Use the Currency Converter
- Select currencies (from -> to) and enter an amount.
- Choose a rate (mid-market by default) or add a spread/fee to match card/bank rates.
- Convert to see the amount in the target currency.
- Optionally invert the rate to compare both directions.
- Save frequent pairs for quick access.
Formulas & Methods
- Conversion:
To = From * Rate - Applying spread/fee:
EffectiveRate = Rate * (1 - spread%)for a purchase; or divide by(1 - spread%)depending on direction. - Inverse rate:
Rate_inv = 1 / Rate
Assumptions & limitations
- Rates are indicative and change often; actual card/bank statements can differ due to timing and fees.
- Weekends/holidays may use last market close rates.
Examples
Example A — Mid-market conversion
€250 to USD at 1.1050 -> $276.25.
Example B — With 3% card fee
Effective rate = 1.1050 * (1 - 0.03) = 1.07185 -> $267.96.
| Concept | Formula | Note |
|---|---|---|
| Convert | To = From * Rate | Use mid-market or provider rate |
| Fee | Effective = Rate * (1 - spread) | Adjust for card/bank spreads |
| Inverse | 1/Rate | Flip direction quickly |
Pro Tips & Best Practices
- Check effective rate including fees for real-world costs.
- Save watchlist pairs you use often (e.g., USD<->EUR, GBP<->JPY).
- For invoices, add a small buffer for rate moves between quote and payment.
Related Calculators
FAQ
Q: How are exchange rates determined?
A: Rates reflect supply/demand in the FX market. Consumer rates include a spread over the mid-market rate.
Q: What is the difference between buy and sell rates?
A: Banks/agents quote different prices to buy from you and sell to you; the difference is the spread.
Q: Why is my card statement different from my calculation?
A: Issuers add FX fees or use different rates at posting. Weekends/holidays can shift the rate used.
Q: Can I convert with fees included?
A: Yes—add a percentage fee or flat fee to model your provider’s costs.
Q: How often do rates change?
A: Major pairs move constantly during market hours; retail quotes update frequently.
Compliance note: This article is for information only and not financial advice.
Call to Action
Enter the amount and currencies—add your card’s spread to see the real cost before you pay.