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Currency Converter
Convert between 150+ world currencies with live exchange rates.
Convert Currency
Understanding Exchange Rates
This calculator shows "mid-market" rates—the midpoint between buy and sell prices. Banks and currency exchanges will give you worse rates because they add a markup (spread) to make money.
💡 Expert Tip from David Chen, CFA
"Never exchange currency at the airport. They charge 10-15% markups. Use a credit card with no foreign transaction fees or services like Wise, which offer rates within 1% of mid-market."
Why Rates Change Every Second
Currency markets trade 24/7. Rates fluctuate based on:
- Interest Rates: Higher rates attract foreign investors, strengthening the currency
- Inflation: High inflation weakens a currency's purchasing power
- Political Stability: Uncertainty = investors flee = currency drops
- Trade Balance: Export more than import = strong currency
⚠️ The "Spread" Scam
You convert $1,000 USD to EUR at a bank. Mid-market rate: 1 USD = 0.92 EUR. Bank rate: 1 USD = 0.88 EUR. You lose $40 just on the spread. Over a lifetime of travel, this adds up to thousands.
Best Ways to Exchange Money
1. Credit Cards (No Foreign Transaction Fee): Get within 1-2% of market rate. Best for daily purchases.
2. Wise (formerly TransferWise): ~0.5% fee, transparent pricing. Great for large transfers.
3. ATMs Abroad: Withdraw local currency. Avoid "conversion" option (DCC scam—always pay in local currency).
4. NEVER: Airport kiosks (10-15% markup), Hotels (8-12% markup), Tourist areas exchanges.
⚠️ Common Mistakes to Avoid
- Trusting the "Mid-Market Rate": The rate you see on Google (and this tool) is the "mid-market" rate. Banks NEVER give you this rate. They add a 2-5% markup. Always expect to pay more than the calculator says.
- Exchanging money at airports: Airport kiosks have the worst rates on the planet (often 10-15% markup). Use an ATM in the destination country or a specialized travel card (like Wise or Revolut).
- Paying in your home currency abroad: If a card terminal asks "Pay in USD or EUR?", ALWAYS choose the local currency (EUR). If you choose USD, the merchant sets the exchange rate, and it will be terrible (Dynamic Currency Conversion).
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❓ Frequently Asked Questions
How accurate are these exchange rates?
These rates are approximations based on mid-market rates. Banks and exchanges add their own fees and spreads.
Why do banks give me a different rate?
Banks add a 2-5% markup ("spread") to the mid-market rate. Plus service fees. That's how they profit.
When is the best time to exchange currency?
Avoid airports and weekends. Use credit cards with no foreign fees or online services like Wise for better rates.
What affects exchange rates?
Interest rates, inflation, political stability, trade balances, and central bank policies all impact currency values.