Currency Converter
Convert currencies
Frequently Asked Questions
How do currency exchange rates work?
Exchange rates represent how much one currency is worth in another. EUR/USD = 1.10 means 1 euro = 1.10 US dollars. Rates fluctuate based on supply/demand, interest rates, inflation, and economic conditions. The converter uses current market rates.
What is the difference between bid and ask exchange rates?
The bid price is what buyers pay (lower). The ask price is what sellers charge (higher). The difference is the spread, which is the exchange service's profit. Banks typically charge 1-3% spread. The converter shows mid-market rates.
How do I get the best exchange rate when traveling?
Avoid airport kiosks (worst rates, 5-10% markup). Use ATMs abroad for near-market rates. Credit cards with no foreign transaction fees offer competitive rates. Compare rates before exchanging. The converter shows the mid-market rate as a benchmark.
What are the most traded currencies in the world?
By daily volume: USD (88%), EUR (31%), JPY (17%), GBP (13%), AUD (7%), CAD (5%), CHF (5%), CNY (4%). The USD is involved in 88% of all forex trades. Major pairs: EUR/USD, USD/JPY, GBP/USD.
How often do exchange rates change?
Forex markets trade 24/5, so rates change continuously during trading hours. Major pairs can move 50-100 pips (0.5-1%) daily. The converter updates rates regularly. For large transfers, even small rate differences matter significantly.