Currency Conversion Calculator | Currency Converter - Forbes Advisor (2024)

Our currency conversion calculator converts more than 200 currencies, and the rates are updated every five minutes. Among the currencies available, our calculator converts Mexican pesos, Indian rupees, Russian rubles, Jamaican dollars, and Ghanaian cedi. It also calculates the conversion value of various cryptocurrencies, such as Bitcoin (USD to BTC) and Dogecoin (USD to DOGE).

All you have to do is input the amount, your starting currency and your ending currency to get an estimate based on current rates.

Disclaimer: Our currency calculator uses Open Exchange API to gather current exchange rates. We pull new rates every 5 minutes to ensure that the conversion you see is accurate and up to date. However, the rate you see here may not be the same rate that a bank or other financial institution offers you.

Related: International Money Transfer: 5 Best Ways To Send Money

How Does a Currency Conversion Calculator Work?

Our currency conversion calculator uses the current exchange rate to determine how much your money is worth in a different currency. Since this value can fluctuate due to various economic conditions, it’s important to know the current exchange rate before converting your money.

Keep in mind that the conversion provided here doesn’t consider any fees charged by the institution completing the exchange, whether it’s a bank, digital app or travel kiosk.

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Live Exchange Rates

How Does Currency Exchange Work?

At a currency exchange, you can convert your cash into money you can use in a different country or region.

Currency exchanges are businesses that trade various currencies. But this service is rarely free. Currency exchange companies make money by charging fees for the convenience of converting your cash. In addition, the value of your currency on the foreign exchange market can influence the value of your money once it’s converted to a new currency.

It’s not as simple as trading one American dollar for its equivalent in Mexican pesos—the current value of each form of currency on the fluctuating foreign exchange market must also be considered.

How to Convert Currency

If you plan to exchange money for personal use, expert travelers will tell you to skip the currency exchange kiosk at the airport—they charge some of the highest fees and often have the worst exchange rates.

Instead, use a debit or credit card with zero foreign transaction fees and select local currency at the register (if you’re given the option).

If you must use cash, make an international withdrawal from an ATM.

If you have a bank account in another country, you can also use an app like Wise to transfer money to yourself for a fee of a few dollars per transaction. Once your transfer is complete, you can withdraw local currency at an ATM.

Read more: 6 Tips To Exchange Currency Without Paying Huge Fees

When Is the Best Time to Exchange Money?

Many factors can impact the value of the currency you’re planning to send or exchange, from economic events to the time of day.

If you’re not in a rush to exchange your currency, check the conversion value on a few different occasions before completing the transaction—you may be able to make your dollar (in whichever currency) go further.

It may also be worth checking currency values during popular currency trading periods. United States and London currency trading overlaps between 8 a.m. and 12 p.m., for example, and currency values can fluctuate a lot during that window. If you’re planning to convert U.S. dollars to Euros, you may want to check values during that overlap period.

How to Send Money Online

It’s easier than ever to send money to friends and family internationally, thanks to online tools.

Apps like WorldRemit and Xoom allow you to send money to people internationally, as does PayPal. But keep in mind that this ease can come at a premium. PayPal charges 4% to convert payments on top of the exchange rate. Xoom (owned by PayPal) charges $5 per transaction, and transactions via WorldRemit start at $2.99.

Since the average transaction cost for international transfers is around 7%, these options may be cheaper. Just make sure you fully understand conversion rates and fees before finalizing the transaction.

Read more: Foreign Transaction Fees Vs. Currency Conversion Fees: What’s the Difference?

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Currency Conversion Calculator | Currency Converter - Forbes Advisor (2024)

FAQs

What is the best website for currency conversion? ›

BookMyForex.com is the best foreign currency converter in India Online where you can convert Pound to INR and INR TO GBP at live exchange rates.

How do you find the best currency conversion rate? ›

Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online peer-to-peer foreign currency exchanges. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

How to easily convert currency? ›

If you know the exchange rate, divide your current currency by the exchange rate. For example, suppose that the USD/EUR exchange rate is 0.631 and you'd like to convert 100 USD into EUR. To accomplish this, simply multiply the 100 by 0.631 and the result is the number of EUR that you will receive: 63.10 EUR.

How much is $100 US in euros? ›

US Dollars to Euros conversion rates
USDEUR
100 USD92.20 EUR
500 USD461.02 EUR
1,000 USD922.05 EUR
5,000 USD4,610.28 EUR
7 more rows

What is the best site for exchange rates? ›

OANDA's Currency Converter allows you to check the latest foreign exchange average bid/ask rates and convert all major world currencies. OANDA Rates™ are foreign exchange rates compiled from leading market data contributors.

Where is best to convert currency? ›

Online currency exchange brokers, such as Travelex, Eurochange, TravelFX, TorFX, and the Currency Online Group, are all likely to offer more competitive exchange rates compared to the high street banks. These providers offer a wide range of currencies for home delivery.

What is the easiest way to calculate exchange rate? ›

Calculating an FX rate: The formula

Calculate an FX rate using this simple formula: Your starting figure (in your local currency) divided by the final number (in the new foreign currency) = the exchange rate.

What country has the best conversion rate for US dollars? ›

Best Places to Visit Where the Dollar Is Strong
  • Peru. Peru/Peruvian Sol. ...
  • Mexico. Mexico/Mexican Peso. ...
  • South Africa. South Africa/South African Rand. ...
  • South Korea. South Korea/South Korean Won. ...
  • Japan. Japan/Japanese Yen. ...
  • Argentina. Argentina/Argentine Peso. ...
  • Hungary. Hungary/Hungarian Forint. ...
  • Chile. Chile/Chilean Peso.

What's today's conversion rate? ›

US Dollar Exchange Rates Table Converter
US Dollar1.00 USDinv. 1.00 USD
Euro0.9235471.082782
British Pound0.7804171.281366
Indian Rupee83.4441260.011984
Australian Dollar1.4809050.675263
6 more rows

What is the formula for currency conversion? ›

If "a" is the money you have in one currency and "b" is the exchange rate, then "c" is how much money you'll have after the exchange. So a * b = c, and a = c/b.

What is the hardest currency to exchange? ›

  1. Kuwaiti dinar. The Kuwaiti dinar (KWD) is the world's strongest currency, and this is for a number of reasons. ...
  2. Bahraini dinar. The second most valuable global currency is the Bahraini dinar (BHD). ...
  3. Omani rial. ...
  4. Jordanian dinar. ...
  5. British pound. ...
  6. Gibraltar pound. ...
  7. Cayman Islands dollar. ...
  8. Swiss franc.
Apr 16, 2024

How to convert currency without a calculator? ›

To do this we need to either multiply or divide the quantity we are trying to convert with the exchange rate. To convert from British pounds to a foreign currency you must multiply by the exchange rate. So 150 £150 would be 276 $276 because. 150 \times 1.87=276.

What is the cheapest way to convert dollars to euros? ›

Best place to exchange currency: Your bank or credit union

Many banks offer currency exchange to their customers. Though there may be a small fee if you exchange less than a certain amount, your bank or credit union will almost always be the cheapest place to exchange currency.

Where is the U.S. dollar worth the most? ›

Some of the countries where a dollar is worth the most money include Mexico, Peru, Chile, and Colombia. It's possible to exchange dollars for local currency in these countries at favorable exchange rates.

How much is $1 worth to an euro? ›

0.9333 EUR

What is the best site conversion rate? ›

Let us tell you. An average conversion rate for a website is between 2 percent and 5 percent. Website conversion rates higher than 5% are considered to be “good” or above the average.

Which company is best for currency exchange? ›

Best place to exchange currency: Your bank or credit union

Many banks offer currency exchange to their customers. Though there may be a small fee if you exchange less than a certain amount, your bank or credit union will almost always be the cheapest place to exchange currency.

What is the best platform for currency trading? ›

  • OANDA - Best US forex broker overall. ...
  • Forex.com - lowest spread forex broker. ...
  • IG - best forex broker for beginner traders. ...
  • Interactive Brokers - best broker commission rates. ...
  • TD Ameritrade - best U.S.-based customer support. ...
  • eToro - best social and copy trading platform. ...
  • Trading.com - good selection of currency pairs.
Dec 19, 2023

Which is better for currency exchange? ›

Where to Get Good Rates: ATMs and Local Banks. The best place to exchange money is a local ATM or a bank. Many foreign banks are happy to exchange your dollars for local currency for a better rate than you find elsewhere, or you can go to an ATM to skip the line.

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