Currency Converter
Real-time currency converter with live exchange rates. Convert USD, EUR, GBP, PLN, JPY and 150+ world currencies. Free forex calculator online
Real-time currency conversion looks like "rate × amount" until you realize the rate has at least four different definitions — mid-market, bid, ask, and consumer (what you actually pay at a bank or card transaction). The spread between mid-market and consumer rates is where banks and card networks make money; on a $1000 transfer it can be $30-50. This converter shows the mid-market rate (the reference number for "what the currency is actually worth"), updates throughout the day, and tells you when each rate snapshot was taken so you can spot stale data.
The four rates, ranked by how much they matter to you
- Mid-market — average of bid and ask, the "true" rate quoted by Reuters, Bloomberg, Google Finance, and currency tools like this. What you compare against when judging a fair price.
- Bid — what a buyer (typically a bank) will pay for currency. Slightly below mid-market.
- Ask — what a seller (the bank, when selling to you) will charge. Slightly above mid-market. The bid-ask spread is the bank's margin on wholesale trades.
- Consumer rate — the rate you actually pay or receive at retail banks, card networks (Visa, Mastercard), and remittance services. Includes the spread plus their margin, often 2-5% worse than mid-market.
When someone says "the exchange rate is 1.08 USD/EUR", they mean mid-market. Your bank may offer you 1.04 to buy EUR and charge 1.12 to sell EUR — and call both "the exchange rate". Always quote and compare in mid-market terms.
Working example: a $1000 transfer
Input
$1000 USD → EUR at mid-market 0.92 EUR/USD
Output
Mid-market value: €920.00 What you actually receive: Big bank wire transfer: €875 ± €20 (2-5% off mid-market + flat fee) Card transaction abroad: €890 ± €10 (typically 1-3% off mid-market + foreign txn fee) Wise / Revolut / Western Union: €910-918 (0.4-1% off mid-market) Cryptocurrency stablecoin: €913-918 (~0.5-1% off mid-market + on/off-ramp fees) Gap explained: €920 mid-market is the wholesale rate banks pay each other. Retail provider takes the spread (the difference between their cost and your rate) plus any explicit transfer fee.
For small transfers, fee structures matter more than rate. $50 sent abroad with a $20 flat fee loses 40% to fees. For $5000+, the rate margin dominates the flat fee, and shopping the rate matters more.
How rates are quoted and the conventions that confuse
- EUR/USD = 1.08 means 1 EUR = 1.08 USD. Base currency first, quote currency second. So USD/EUR = 1 / (EUR/USD) ≈ 0.93.
- Direct vs indirect — depends on whose perspective. In the US, USD/EUR is "indirect" (foreign per domestic); EUR/USD is "direct" (domestic per foreign). In Europe it is the opposite.
- Pips — smallest unit in forex. For most pairs, 1 pip = 0.0001 of the quote currency. EUR/USD moving from 1.0800 to 1.0801 is "1 pip up". For JPY pairs, 1 pip = 0.01 (because yen has fewer decimal places at typical magnitudes).
- Spot vs forward — spot is "for delivery now" (technically 2 business days). Forward is "for delivery later, at a rate agreed today". Forwards include the interest-rate differential between the two currencies; not the same as spot.
- Crypto stablecoin pricing — USDT/USDC trade at ~$1 but spot price can be $0.997 to $1.003 depending on market stress. Treat as fiat USD ± 0.3% for most purposes.
When to reach for this tool
- You are travelling and want to know "is this restaurant bill expensive in my home currency" without doing mental arithmetic.
- You are negotiating a contract in a foreign currency and want today's reference rate before agreeing on a number.
- You are evaluating whether your bank gave you a fair rate on a recent transfer — compare the rate you received against the mid-market rate at that time.
- You are pricing a SaaS in multiple currencies and want a rough conversion from your base USD pricing to local currency.
What this tool will not do
- It will not execute trades. The rate is informational. To actually move money, use a bank, broker, or remittance service.
- It will not give exact historical rates. End-of-day historical rates are widely available; intraday history is locked behind paid market-data feeds.
- It will not include fees and spreads from your specific provider. Compare the mid-market rate shown here against what your provider quotes; the difference is what they charge.
- It will not predict future rates. Currency forecasting is what professional FX desks do, with significant variance in success. For business planning, use forward contracts or quotes from currency-risk specialists; do not trust internet forecasts.
Rates update from a public market-data provider. For trade execution (real money moving), confirm rates with your provider — even small delays can matter for large amounts.
Frequently asked questions
Why is the rate on Google different from my bank's rate?
Google shows mid-market (the reference price). Your bank shows the rate it offers you, which includes their margin. The difference is the bank's profit on the transaction, typically 1-4% for retail clients on major currencies, more on exotic currencies.
Are crypto-based transfers cheaper for international money movement?
Sometimes. Stablecoin (USDT/USDC) transfers across blockchains have minimal direct cost (a few cents to a few dollars), but on-ramp (fiat → stablecoin) and off-ramp (stablecoin → fiat) typically cost 0.5-2% each. For $10k+ transfers between cooperating crypto users, can beat bank wires; for $100 transfers, the on/off-ramp fees dominate.
How often do rates update?
Spot forex trades 24/5 (closed weekends). Rates can move several percent in a day during normal trading, or much more during crisis events. Most aggregator tools show updates every minute or so; institutional feeds update millisecond-by-millisecond.
Should I exchange currency at the airport?
Almost never. Airport rates are typically 5-15% worse than mid-market — captive customers, monopoly placement. Better: ATM in the destination country (most banks add 1-3% on top of a near-mid-market rate from the network), or a multi-currency card (Wise, Revolut, Charles Schwab debit) at near-mid-market.
What is "FX spread" and why does it matter?
The difference between the bid and ask price. Major pairs (EUR/USD, USD/JPY) have spreads of 0.1-1 pip (tiny) at wholesale; retail spreads are 5-50 pips. The spread is the provider's gross margin. Tighter spread = cheaper to trade; wider spread = more profit for the provider.
How do I lock in a rate for a future payment?
Forward contract with a bank or specialized FX provider (e.g., Wise Business, Convera). You agree on a rate today for an amount to settle in X days. Cost: a small margin over the calculated theoretical forward rate. Used by businesses with predictable foreign-currency payables to remove FX risk.
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Last updated · E-Utils editorial team