Currency Converter
Convert between major world currencies using approximate exchange rates.
Converted Amount
€920.00
1 USD = 0.92 EUR
1 EUR = 1.087 USD
Understanding Currency Conversion
A currency converter is an essential tool for international travelers, online shoppers, business professionals, and anyone who deals with multiple currencies. This calculator uses approximate static exchange rates to give you a quick reference for converting between 20 major world currencies.
Exchange rates are determined by the foreign exchange market (forex), the largest financial market in the world with over $6 trillion in daily trading volume. Rates fluctuate constantly based on economic indicators, interest rate policies, geopolitical events, and market sentiment. The rates used in this calculator are approximate and intended for reference purposes only.
When exchanging currency, it is important to understand that you will rarely get the mid-market rate (the rate you see on news websites and in this converter). Banks, exchange bureaus, and credit card companies add a markup, typically ranging from 1-5%. Some services also charge flat fees. To minimize costs, compare exchange services and consider using online transfer services that offer rates closer to the mid-market rate.
Major world currencies include the US Dollar (USD), Euro (EUR), British Pound (GBP), Japanese Yen (JPY), and Swiss Franc (CHF). The US Dollar is the world's primary reserve currency, used in about 88% of all international transactions. The Euro is the second most traded currency, used by 20 European Union member states.
Common Use Cases
- Travel planning: estimate costs in your home currency when budgeting for international trips
- Online shopping: convert prices on international e-commerce sites to your local currency
- Business invoicing: convert amounts between currencies for international clients
- Investment analysis: compare investment returns across different currency markets
- Remittances: estimate the amount received when sending money to family abroad
Currency Exchange Tips
- ✓Avoid exchanging currency at airports; their rates are typically 5-10% worse than banks or online services
- ✓Use credit cards with no foreign transaction fees for the best exchange rates when traveling
- ✓Monitor exchange rates before a trip and exchange when rates are favorable
- ✓Be aware of dynamic currency conversion (DCC) at foreign ATMs and stores; always choose to pay in the local currency
- ✓For large transfers, online services like Wise (TransferWise) often offer better rates than traditional banks
Frequently Asked Questions
Are the exchange rates in this calculator accurate?
The rates in this calculator are approximate and intended for quick reference only. Real-time exchange rates fluctuate constantly. For actual transactions, always check the current rate with your bank, exchange service, or a live rate provider.
What is the mid-market exchange rate?
The mid-market rate (also called the interbank rate) is the midpoint between the buy and sell prices of two currencies on the global market. It is the fairest rate available but is typically only accessible to large financial institutions. Consumer exchange services add a markup to this rate.
Why do I get a different rate at the bank?
Banks add a spread (markup) to the mid-market rate to make a profit on currency exchange. This spread can range from 1-5% depending on the bank, the currencies involved, and the amount. Additionally, many banks charge flat fees or commissions on top of the spread.
What is the strongest currency in the world?
The Kuwaiti Dinar (KWD) is typically the highest-valued currency by exchange rate to USD. However, "strongest" can also refer to the most widely traded (USD), most stable (CHF), or most influential (USD and EUR). Currency strength is relative and changes over time.