How currency conversion works
All rates are stored against the US dollar, so any pair is converted through USD:
The rates are mid-market reference rates — the midpoint between what banks pay to buy and sell a currency. They’re the fairest benchmark, but not usually what consumers are offered.
Getting a better exchange rate
- Compare the rate you’re offered with the mid-market rate here; the difference is the provider’s markup, often 2–5% at banks and airports.
- When paying by card abroad, choose to be charged in the local currency to avoid dynamic currency conversion fees.
- For international transfers, specialist services usually charge less than traditional wire transfers.
- Use a card with no foreign transaction fee when you travel.
Why exchange rates change
Rates move with interest-rate differences between countries, inflation, trade balances, economic news and investor demand for safe-haven currencies. Major pairs can move 1% or more in a day.
Related International Commerce & Inflation Tools
Cross-border transactions and global travel require real-time currency conversion awareness. Evaluate purchasing power parity shifts with our Inflation Calculator, calculate overseas value-added tax with the VAT Calculator, account for international payment processor margins using the PayPal Fee Calculator, and determine domestic retail tax via our Sales Tax Calculator.
Frequently asked questions
How often are the rates updated?
Once a day. They're suitable for planning and estimates, not for trading, where prices change every second.
Why does my bank give a different rate?
Banks and exchange services add a margin to the mid-market rate and sometimes a fixed fee. Ask for the total amount you'll receive to compare offers.
Can I convert cryptocurrencies?
Not here — this converter covers government-issued currencies. Use the crypto profit calculator for coin trades.