Currency rates & converter

How currency conversion really works

Type an amount, pick two currencies, and you get a number back. Simple enough. But the figure our currency converter shows you is only half the story, and knowing the other half can save you real money the next time you travel or shop across borders. This tool converts between roughly 166 world currencies and shows a live exchange-rate table built on mid-market reference rates that update regularly. It's a place to look up what a currency is worth right now, not a place to actually buy or sell money.

So let's unpack what that rate means, why it shifts from one hour to the next, and why the number on your screen rarely matches what your bank hands you.

Why exchange rates move

Most of the world's major currencies float freely, which means their value is set by supply and demand on the global foreign-exchange market. When more people want a currency than want to sell it, its price climbs. When everyone's trying to offload it, the price slides. That's the simple version, but plenty of forces tug on supply and demand at once.

Central banks are one of the biggest. When a central bank raises interest rates, holding that country's currency pays more, so foreign investors buy in to chase the higher return. Demand goes up, and the currency tends to strengthen. Cut rates, and the opposite usually happens. Trade flows matter too: a country that exports more than it imports sees steady demand for its currency, while big trade deficits can drag a currency down. Layer in inflation, government debt, political surprises, and plain old market mood, and you get a number that's never quite still. A lot of the movement comes from expectations as much as hard data. If traders think a rate cut is coming, they'll often move before it's announced.

What the mid-market rate is

The number we show is the mid-market rate, also called the interbank rate, spot rate, or simply the real rate. Picture the global market: at any moment, banks are willing to buy a currency at one price and sell it at a slightly higher one. The midpoint between those two prices is the mid-market rate. It's the fairest, most honest snapshot of what one currency is worth in another, and it's the same rate you'll see quoted on Google, Reuters, or any reputable converter.

Here's the catch, and it surprises a lot of people: you can't actually transact at the mid-market rate. It's a reference point, not an offer. Banks and money services start from this exact rate, then quietly shift it in their favour before they deal with you.

Why your bank's rate is different

That shift is called the spread or markup, and it's how providers make money on currency. A bank might tell you the transfer is "free" or charge a small flat fee, but the real cost is usually baked into the rate itself. There's no line on your receipt that says "exchange-rate markup," which is exactly why it's so easy to miss. You only notice the difference when you compare what you paid against the mid-market rate afterward.

How big is the gap? It depends on where you exchange. A typical bank adds somewhere around 2 to 3 percent. Airport kiosks and tourist-strip bureaus are far worse, often marking up 8 to 10 percent or more, because they know you're short on time and options. So the rate you see in a converter and the rate you get at a counter are two different things, and the gap between them is the provider's profit.

How to use this converter

Using the tool is quick. Choose the currency you're converting from, the one you're converting to, and enter an amount. The result updates against the latest mid-market rate, and the rate table below lets you scan how one currency stacks up against many others at a glance. Treat the output as a reliable baseline for budgeting, comparing prices, or sanity-checking a quote you've been given. If a shop or transfer service offers you a rate noticeably worse than what you see here, that difference is the markup, and now you know to ask about it.

Tips for travellers and online shoppers

A few habits keep more money in your pocket. When you pay by card abroad and the terminal asks whether you'd like to be charged in your home currency, say no and pick the local currency. That "helpful" option is dynamic currency conversion, and it usually tacks on an extra 3 to 4 percent. Withdrawing cash from a bank-branded ATM after you land tends to give you a rate close to interbank, far better than swapping cash at the airport. If you exchange physical money, order it from your own bank a week or two ahead rather than grabbing it at the gate.

For online shopping, check the seller's price in its native currency and convert it yourself here before you buy, so a flattering "in your currency" total at checkout doesn't hide a markup. A travel card with no foreign-transaction fee helps too. And if you're curious how digital assets compare, our crypto price tracker works on the same idea of a live reference price. Need to split a bill or work out a percentage in another currency? The calculator pairs nicely with this converter.

The bottom line: the mid-market rate is the truth about what a currency is worth. Everything beyond it is someone's fee, and the more you know about that gap, the better deal you'll walk away with.

Frequently asked questions