Currency Converter
Convert between world currencies (indicative rates).
Convert currency
Mid-market reference rates for information only, not a quote. Banks and payment apps apply their own rate and fees.
This converts between around 160 currencies using live mid-market rates, and shows when the rates were last updated.
Those are reference rates, which is what you see quoted in the news. What a bank, card or bureau actually gives you will be a little worse, and the sections below explain by how much.
What an exchange rate really is
An exchange rate is simply how much of one currency you get for another. If EUR/USD is 1.08, one euro buys 1.08 dollars.
The rate quoted here is the mid-market rate: the midpoint between what buyers are offering and what sellers are asking on the wholesale market. It is the honest reference number, and it is what Google, XE and the news all show.
But almost nobody gets the mid-market rate. Banks, bureaux and card networks add a margin called the spread, and cards often add a foreign transaction fee on top. Between them, a conversion typically costs 3% to 6% more than the number you looked up.
The spread is hidden inside the rate you are quoted, so it never appears as a line on your statement. That is precisely why it is easy to miss.
What to enter
- From currency
- The currency you are converting out of.
- To currency
- The currency you want. Around 160 are available.
- Amount
- How much you are converting. The rate is the same whatever the amount, though real providers often give better rates on larger sums.
What each way of getting currency actually costs
- Mid-market rate
- The reference midpoint. What this page shows, and what you should measure every offer against.
- Bank transfer
- Usually a 2-4% spread built into the rate, sometimes plus a flat fee. The rate looks clean because the margin is hidden inside it.
- Card abroad
- A network rate close to mid-market, then typically a 1-3% foreign transaction fee from your issuer. Some cards charge nothing.
- Airport bureau
- The worst option, commonly 7-12% off mid-market. 'No commission' means the margin is in the rate instead.
- Specialist transfer services
- Often quote at or near mid-market with a visible flat fee, which is easier to compare because nothing is hidden.
What this assumes
Rates are live mid-market reference rates, refreshed periodically. They are not a quote and no transaction is offered here.
Real rates move continuously during market hours. For large transfers, the rate you are given is the one at the moment of execution.
How to calculate a currency conversion
Converting is one multiplication. Working out what you are really being charged is the part worth learning.
- rate
- Units of the target currency per one unit of the source
Multiply by the rate. $1,000 at a EUR/USD rate of 1.08 gives €1,080 at mid-market.
Compare the offer against it. Divide what you are actually offered by the mid-market amount. If a bureau offers €1,000 for your $1,000, that is €80 less, or about 7.4% worse.
Add any separate fees. A flat transfer fee or a card's foreign transaction fee sits on top of the spread.
To reverse the conversion, divide. Going the other way means dividing by the rate rather than multiplying.
See a worked example: what a 'no commission' bureau really charges
- You have
- $1,000
- Mid-market rate
- 1.08
- Bureau offers
- €1,000
At mid-market, $1,000 should be €1,080.
The bureau is giving you €1,000, so you are €80 short.
€80 ÷ €1,080 = 7.4%.
So a 'no commission, no fees' desk charged about 7.4%, entirely through the rate.
About 7.4%, hidden in the rate
Frequently asked questions
Because this is the mid-market rate, the wholesale midpoint. It is a reference, not an offer, and essentially nobody sells currency at it.
Providers add a spread, typically 2-4% at a bank and much more at an airport. Your card may add a foreign transaction fee on top. The mid-market rate is the benchmark to judge those against, which is exactly what makes it useful.
Always choose the local currency. When a foreign card terminal or ATM offers to charge you in your home currency, that is dynamic currency conversion, and the exchange rate is set by the merchant's provider rather than your card network.
It usually costs an extra 3-7%, and the screen presents it as a helpful convenience. Declining and paying in local currency lets your own card network do the conversion at a far better rate.
The difference between what a provider will buy a currency for and what they will sell it for. Their profit lives in that gap.
It is quoted inside the rate rather than as a fee, which is why an exchange can honestly advertise 'no commission' while still taking 7%. Comparing their rate to mid-market reveals it in seconds.
Generally a card with no foreign transaction fee, used for purchases and for ATM withdrawals where the bank does not add its own charge.
Airport bureaux are consistently the worst. If you want cash before travelling, order it in advance rather than at the terminal, and compare the rate offered against mid-market rather than against other airport desks.
Constantly. Major currencies trade around the clock on weekdays and the rate moves every few seconds.
Day-to-day moves are usually a fraction of a percent, which is far smaller than the spread most providers charge. For a holiday budget, the provider you choose matters more than the day you convert.
No. Tax authorities normally require a specific official rate, often a published daily or annual average from a central bank or the tax authority itself.
For US filings the Treasury publishes official rates for reporting. Use those rather than a live mid-market figure.
Problems people actually run into
Accepting dynamic currency conversion at the terminal
The card machine abroad asks whether you would like to pay in dollars instead of the local currency. Saying yes feels safer because you see a familiar number, and it typically costs 3-7% extra.
The merchant's provider sets that rate and keeps the margin. Always press the local currency option and let your own card handle the conversion.
Comparing providers on fees while ignoring the rate
Two transfer services quote a $5 fee and a $20 fee, so the $5 one looks cheaper. But if it applies a 3% spread on $2,000 and the other applies 0.5%, the 'cheap' one costs $60 against $10.
The only fair comparison is the total amount that lands in the other account. Work out the mid-market figure here first, then judge every quote against it.
Results are estimates for general information only and are not professional financial, medical, or legal advice. Read our full disclaimer.
Last updated: September 4, 2026