Currency Converter
Live exchange rates for 35+ world currencies, updated daily from the European Central Bank
| Code | Currency Name | Rate per 1 EUR | 1 Unit = EUR |
|---|---|---|---|
| Loading rates… | |||
Rates sourced from European Central Bank. Updated each business day at approximately 4 PM CET.
How Currency Conversion Works
Currency conversion uses the current exchange rate to calculate how much of one currency equals a given amount of another. All currencies are priced relative to a base, and this calculator uses the Euro as its base following the ECB convention.
Example: Converting USD to GBP
Suppose the ECB rates are 1 EUR = 1.08 USD and 1 EUR = 0.86 GBP. To convert 200 USD to GBP:
Why Use the ECB Rate?
The European Central Bank publishes its reference rates after a daily concertation procedure between central banks across Europe and worldwide. These rates are a trusted benchmark used by governments, financial institutions, and businesses globally. They represent the true mid-market rate with no commercial markup applied.
Understanding Exchange Rate Types
Exchange rates come in several forms, and knowing which one you are looking at will save you money when converting currency.
Mid-Market Rate
The mid-market rate is the midpoint between the buy and sell prices on global forex markets. This is the rate ECB publishes and the one used in this calculator. It is the fairest benchmark for comparison but is rarely the rate you will actually receive from a bank.
Buy Rate and Sell Rate
When you exchange money at a bank or bureau de change, the institution charges a spread. The buy rate is the price at which they will buy foreign currency from you. The sell rate is the price at which they sell foreign currency to you. The gap between these two rates is their profit margin.
Fixed vs Floating Rates
Most major currencies like USD, EUR, GBP, and JPY use floating exchange rates, meaning their values are determined continuously by the global forex market. Some currencies are pegged or fixed to another currency, such as the Hong Kong Dollar which is maintained within a tight band against the US Dollar.
Popular Currency Pairs Explained
Popular currency pairs attract the highest trading volumes and typically carry the tightest spreads at banks and exchange offices.
EUR/USD (Euro to US Dollar)
EUR/USD is the most traded currency pair in the world. It represents the economic relationship between the Eurozone and the United States. Changes in interest rate decisions by the US Federal Reserve or the European Central Bank have an immediate and significant effect on this pair.
GBP/USD (Pound Sterling to US Dollar)
Known informally as Cable, GBP/USD is one of the oldest forex pairs. The nickname originates from the transatlantic telegraph cable used in the 19th century to synchronize exchange rates between London and New York. UK economic data and Bank of England decisions drive significant moves in this pair.
USD/JPY (US Dollar to Japanese Yen)
USD/JPY is highly sensitive to the interest rate differential between the US Federal Reserve and the Bank of Japan. The Yen is traditionally considered a safe-haven currency, meaning it tends to strengthen during periods of global economic uncertainty.
USD/INR (US Dollar to Indian Rupee)
The Indian Rupee has grown in importance as India’s economy has expanded. The Reserve Bank of India actively manages the Rupee to prevent excessive volatility, making large swings less common than in some other emerging market currencies.
Tips for Getting the Best Exchange Rate
Getting the best exchange rate requires comparing options and understanding where the hidden costs are buried.
- Always compare the total amount received after all fees, not just the headline rate
- Online money transfer services like Wise and Revolut typically offer rates much closer to the mid-market rate than traditional banks
- Avoid converting currency at airports and hotel desks where markups are highest
- Check whether your bank charges a foreign transaction fee on card payments abroad, as these add 1 to 3 percent to every purchase
- If you travel frequently, a multi-currency account or travel card can save significant amounts over time
- Large transfers often qualify for better negotiated rates directly with a currency broker