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For reference only. Rates may differ from banks and brokers. Not financial advice.
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How to Use the Currency Converter
- Select your source currency — use the "From" dropdown to choose the currency you are converting from. Popular currencies appear at the top of the list for quick access.
- Select your target currency — use the "To" dropdown to choose the currency you want to convert to. You can also click the "Swap" button to reverse the direction.
- Enter the amount — type the amount you wish to convert. You can use decimals for precise amounts.
- Click "Convert" — the result appears instantly, showing the converted amount, the exchange rate used, and the date the rate was last updated.
- Use quick pairs — click any of the quick-pair buttons (e.g. GBP/USD, GBP/EUR) to instantly set both currencies and perform the conversion in one step.
- Copy the result — click "Copy Result" to copy the full conversion details to your clipboard.
How It Works
Our currency converter fetches live exchange rates from the Open Exchange Rates API (open.er-api.com), a widely used and reliable source of foreign exchange data. Rates are updated once per day and represent mid-market rates, which are the midpoint between the wholesale buy and sell prices on the global forex market. To perform a conversion, the calculator first retrieves the rate of both your source and target currencies relative to a common base currency (USD). It then calculates the cross-rate by dividing the target rate by the source rate. The entered amount is multiplied by this cross-rate to produce the converted value. Because the rates are mid-market, they do not include any bank spread, broker commission, or transfer fee. This makes them ideal for benchmarking and comparison, but the rate you receive from your bank or money transfer service will typically be slightly less favourable.
How accurate are the exchange rates?
The rates shown are mid-market reference rates sourced from the Open Exchange Rates API. They represent the midpoint between wholesale buy and sell prices on the global foreign exchange market. While they are highly accurate as a benchmark, the rate you actually receive from a bank, broker, or money transfer service will typically differ because those providers add a spread or commission to cover their costs and generate profit.
How often are rates updated?
Exchange rates are updated once per day. The exact time of the last update is displayed alongside each conversion result, so you can see how current the data is. For most purposes including travel budgeting, invoice estimates, and general price comparisons, daily updates provide sufficient accuracy. Intraday traders requiring real-time tick data should use a dedicated forex platform.
Which currencies are supported?
Over 170 currencies are supported, including all major currencies such as British Pound (GBP), US Dollar (USD), Euro (EUR), Japanese Yen (JPY), Australian Dollar (AUD), and Canadian Dollar (CAD). The full list also includes many minor and exotic currencies, making the converter suitable for virtually any international conversion need.
Why is the bank rate different from the mid-market rate?
Banks and money transfer services add a margin (also called a spread or markup) to the mid-market rate. This margin is how they earn revenue on currency exchange transactions. The size of the spread varies by provider, currency pair, and transaction amount. By comparing the mid-market rate shown here with the rate your bank offers, you can see exactly how much the bank is charging you for the conversion.
What is the mid-market rate?
The mid-market rate, also called the interbank rate or spot rate, is the midpoint between the buy (bid) and sell (ask) prices on the wholesale foreign exchange market. It is considered the fairest exchange rate because it does not include any markup from banks or brokers. Central banks, financial news outlets, and currency data providers typically quote mid-market rates as their standard reference.
Can I use this converter for business transactions?
The rates provided are reference rates intended for guidance, comparison, and budgeting purposes. They are not transactional rates and do not include bank fees or spreads. For actual business payments, invoices, or contracts, always confirm the rate with your bank or payment provider at the time of the transaction. However, this converter is useful for estimating costs, comparing provider rates, and preparing financial forecasts.
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