Currency Converter
Convert between currencies with live exchange rates.
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Fetching latest rates…
What this tool does
It fetches recent exchange rates and converts an amount from a base currency to a target currency.
How conversion works
Converted = amount × rate(base→target). Rates update periodically via a public API and may differ from bank rates.
Who should use this
- Travelers estimating costs
- Online shoppers comparing prices
Examples
- 150 USD to EUR → €X based on latest rate
- 200 GBP to JPY → ¥Y based on latest rate
Understanding Currency Exchange
How Exchange Rates Work
Exchange rates represent how much one currency is worth in another currency. Rates fluctuate based on:
- Economic factors: Interest rates, inflation, economic growth
- Political stability: Government policies, political events
- Market demand: Supply and demand for currencies
- Trade balances: Import/export relationships between countries
Rates are quoted as currency pairs (e.g., USD/EUR = 0.92 means 1 USD = 0.92 EUR).
FX Fees and Spreads Explained
When converting currency, you typically pay more than the market rate due to:
- Spread: Difference between buy and sell rates (how banks/exchanges make money)
- Transaction fees: Fixed or percentage fees charged per transaction
- Markup: Additional percentage added to the exchange rate
Always check the total cost, not just the exchange rate. A better rate with high fees may cost more overall.
Frequently Asked Questions
Why do exchange rates change?
Rates change constantly due to economic conditions, political events, interest rates, and market speculation. They're determined by global currency markets 24/7.
Where can I get the best exchange rate?
Compare rates from banks, currency exchanges, credit cards, and online services. Consider total costs including fees. Often, credit cards with no foreign transaction fees offer competitive rates.