How to Use the Currency Converter
The Currency Converter converts between 30+ major world currencies using reference exchange rates. It provides fast, transparent conversions for travel planning, international transfers, business pricing, and financial research.
Select your source currency, enter the amount, and choose your target currency. The converter displays the converted amount along with the exchange rate used and a quick reference table showing the value of common amounts (1, 10, 100, 1,000 units).
An important nuance is the gap between mid-market (interbank) rates shown by converters and the rates you'll actually receive. Banks, currency exchange bureaux, and PayPal typically add a 1–5% spread. For large transfers, use specialist services like Wise or Revolut which often offer rates much closer to mid-market.
📊 Worked Example
Converting $1,000 USD to other currencies (approximate reference rates):
- British Pounds (GBP): £785
- Euros (EUR): €920
- Australian Dollars (AUD): A$1,540
- Indian Rupees (INR): ₹83,400
- Canadian Dollars (CAD): C$1,355
Common Use Cases
- ✅ Converting currency before an international trip
- ✅ Comparing prices across different countries in a common currency
- ✅ Calculating how much to send in an international money transfer
- ✅ Pricing products or services for international customers
- ✅ Tracking exchange rate movements for financial planning
- ✅ Converting investment values or overseas salary offers
Frequently Asked Questions
What is the mid-market exchange rate?
The mid-market rate (also called the interbank rate) is the midpoint between the buy and sell prices in the global currency markets. It's the 'true' exchange rate that appears on Google and financial data providers. You won't get this rate at a bank or exchange bureau — they add a spread.
Where can I get the best exchange rate?
For travel cash, specialist providers like Post Office, Sainsbury's Bank, and online services typically beat high-street banks. For international transfers, Wise (TransferWise), Revolut, and OFX offer rates very close to mid-market. Avoid airport exchanges and hotel desks — they have the worst rates.
What is a currency spread?
The spread is the difference between the buy rate and sell rate, which is how exchange providers make money. A 2% spread means they buy your foreign currency 1% below mid-market and sell it 1% above. Always compare the total amount you receive, not just the stated rate.
Why do exchange rates change?
Exchange rates fluctuate constantly based on interest rate differentials, inflation rates, economic growth, trade balances, political events, and market sentiment. The Bank of England raising rates makes GBP more attractive to foreign investors, increasing demand and typically strengthening the pound.
What currencies are fixed or pegged?
Some currencies are pegged to the US dollar or another major currency at a fixed rate. Examples: UAE Dirham (AED) is pegged at 3.6725/USD, Hong Kong Dollar (HKD) at 7.75–7.85/USD. Saudi Riyal, Jordanian Dinar, and Bahraini Dinar are also USD-pegged. These rates are set by central banks and change rarely.