Currency Converter
Live exchange rates · loading…
About exchange rates
An exchange rate is simply the price of one currency in terms of another. Rates move constantly as currencies are traded around the world. The rates here are the daily reference rates published by the European Central Bank, which update on business days — a reliable, neutral benchmark.
Keep in mind that the rate you actually get from a bank, card or exchange usually includes a margin, so it will differ slightly from the reference rate. For precious-metal values instead, see the gold and silver prices.
What the rate you see actually is
The number quoted here is the mid-market rate — the midpoint between what buyers are bidding and what sellers are asking on the interbank market. It is the rate you will see on financial news and in search results, and it is the fairest benchmark for comparison. It is also, importantly, not the rate you get at a counter.
Where the money goes
Providers make money two ways: an explicit fee, and a spread — a margin baked into the rate itself. The second is easy to miss. A transfer advertised as “zero commission” at a rate 3% away from mid-market costs more than one charging a $5 fee at the mid-market rate, on any sum above about $170.
| Channel | Typical spread over mid-market |
|---|---|
| Airport bureau de change | 7 – 12% |
| High-street bank counter | 3 – 5% |
| Credit card abroad | 0 – 3% (plus any foreign-transaction fee) |
| Specialist transfer services | 0.3 – 1.5% |
Indicative ranges to illustrate how spreads differ by channel; always check the actual quote before committing.
Reading a currency pair
A pair such as EUR/USD = 1.09 means one euro buys 1.09 dollars. The first currency is the base, the second the quote. To invert a rate, divide one by it: 1 ÷ 1.09 = 0.917, so a dollar buys about 92 euro cents. Conventional order matters — traders quote USD/JPY but EUR/USD, never the reverse.
Practical tips when spending abroad
- Always pay in the local currency. If a card terminal offers to charge you in your home currency, that is dynamic currency conversion and the rate is usually poor.
- Check for a foreign-transaction fee on your card — commonly 0 to 3% — before assuming the card is the cheapest option.
- Withdraw larger amounts less often where fixed ATM fees apply, and decline the machine’s own conversion offer.
- Compare the total received, not the advertised rate or the headline fee. Only the final figure is comparable.
About the data
Rates refresh from a public market feed and are indicative reference figures, not a dealing quote. They are provided for general information and are not financial advice.
Currency converter FAQ
What is the mid-market exchange rate?
Why is the rate I am offered worse than the one shown here?
How do I read a currency pair like EUR/USD?
Should I pay in local currency or my own when abroad?
How often do exchange rates change?
Is a currency converter accurate enough for large transfers?
Recently used