Finance
Currency Converter
Converts currency, where the rate you get is not the rate you see.
Result
Rates are mid-market reference rates updated daily, not the rate your bank will give you. Banks and payment providers typically add a spread of 1–4% plus a transfer fee, so treat this as an indicative figure.
Get a Free Business AuditHow the calculation works
An amount multiplied by an exchange rate. The rate quoted in published sources is the mid-market rate between buying and selling, and the rate available to a consumer or business includes a spread and frequently a fee, which makes the actual amount received less than the conversion suggests.
What moves the number
- The mid-market rate at the time.
- The spread applied by the provider.
- Fixed fees on the transaction.
- Timing, since rates move continuously.
Where this one goes wrong
Providers advertising no fees frequently take their margin in the spread instead, which means comparing providers on fees alone misses most of the cost and the figure to compare is the amount actually received. Compare the total received. Rates also move continuously, so a conversion calculated now is indicative rather than a quote, and on a large transfer the movement between quoting and executing can exceed the fee.
Before you quote
- Compare providers on the amount actually received.
- Expect a spread even where no fee is charged.
- Treat any calculated figure as indicative, not a quote.
Questions
About this calculator
Why is the rate I get worse than the published one?
Because the published figure is the mid-market rate between buying and selling, and a consumer rate includes a spread. That spread is where providers advertising no fees frequently take their margin.
How should providers be compared?
On the amount actually received for a given amount sent, which captures both the spread and any fee. Comparing on fees alone misses most of the cost, which is exactly why some providers advertise that way.
Does timing matter?
On a large transfer, yes, since rates move continuously and the movement between quoting and executing can exceed the fee. Any calculated figure is indicative rather than a quote for that reason.
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How to use this calculator
- Amount. Enter your own figure; the page starts at 1,000.
- From. Enter your own figure; the page starts at US Dollar (USD).
- To. Enter your own figure; the page starts at Euro (EUR).
The result updates as you type, so you can try a figure, see what it does to converted amount, and change it back. Nothing you enter is sent anywhere or saved.
A worked example
These are the figures the calculator opens with. Every number in the results column below is produced by the same calculation the page runs, so you can follow it through before putting your own figures in.
What goes in
| Input | Value |
|---|---|
| Amount | 1,000 |
| From | US Dollar (USD) |
| To | Euro (EUR) |
What comes out
| Result | Value |
|---|---|
| Converted amount main result | - |
| Exchange rate | - |
| Inverse rate | - |
Fetching today's exchange rates…
What each figure means
- Amount
- A number, starting at 1,000.
- From
- Choose from US Dollar (USD), Euro (EUR), British Pound (GBP), Canadian Dollar (CAD), Australian Dollar (AUD), Japanese Yen (JPY), Indian Rupee (INR), Bangladeshi Taka (BDT), UAE Dirham (AED), Singapore Dollar (SGD), Swiss Franc (CHF), Chinese Yuan (CNY), Mexican Peso (MXN), Brazilian Real (BRL), South African Rand (ZAR).
- To
- Choose from US Dollar (USD), Euro (EUR), British Pound (GBP), Canadian Dollar (CAD), Australian Dollar (AUD), Japanese Yen (JPY), Indian Rupee (INR), Bangladeshi Taka (BDT), UAE Dirham (AED), Singapore Dollar (SGD), Swiss Franc (CHF), Chinese Yuan (CNY), Mexican Peso (MXN), Brazilian Real (BRL), South African Rand (ZAR).
What the results tell you
| Result | What it is |
|---|---|
| Converted amount | The headline result. A number. |
| Exchange rate | A number. |
| Inverse rate | A number. |
Rates and terms move
Loan and interest figures assume the rate and term you enter hold for the whole period. Variable rates, fees rolled into the balance and early-repayment terms all change the real cost.
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