Convert to multiple currencies at once
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Currency conversion uses exchange rates determined by forex markets. These rates fluctuate based on supply/demand, interest rates, inflation, political stability, and economic performance. Our converter uses mid-market rates - the midpoint between buy and sell rates.
Exchange rates change due to: economic indicators (GDP, employment), interest rate differences between countries, inflation rates, political events, trade balances, and market speculation. The forex market trades over $6 trillion daily, causing constant fluctuations.
Online converters like ours use mid-market rates which are highly accurate for reference. However, when you actually exchange money, banks and services add their margin (spread). Compare our rate with what you're offered to see the true cost of conversion.
Rates are most active during overlapping trading sessions (London-New York: 1-4 PM GMT). Avoid airports and tourist areas. Monitor trends and consider rate alerts. For large amounts, timing can save significant money.
By daily trading volume: US Dollar (USD) - 88% of trades, Euro (EUR) - 32%, Japanese Yen (JPY) - 17%, British Pound (GBP) - 13%, Australian Dollar (AUD) - 7%, Canadian Dollar (CAD) - 5%, Swiss Franc (CHF) - 5%.
Buy rate is what exchanges pay when you sell currency to them. Sell rate is what you pay to buy currency. The difference (spread) is their profit. Mid-market rate (what we show) is the midpoint. Banks typically have 2-5% spreads.
Compare both: exchange some beforehand at good rates, use ATMs abroad (usually better rates, check fees), or use cards with no foreign transaction fees. Avoid airport exchanges - they have the worst rates.
Forex markets trade 24/5, with rates updating every second. Our converter caches rates for performance (updates hourly). For major pairs, the difference is typically less than 0.1% from real-time.