Currency Converter

The mid-market rate (also called interbank rate or spot rate) is the midpoint between buy and sell prices on the global currency market. It's the 'real' exchange rate. Banks, credit cards, and exchange services add a spread or fee on top of this rate — typically 1–5% for consumers.

Generally: (1) Use a no-foreign-transaction-fee credit card — typically gets mid-market rate + 0–1%. (2) Withdraw local currency from ATMs abroad — usually better than airport kiosks. (3) Avoid airport and hotel exchange counters — worst rates. (4) Dynamic currency conversion (paying in your home currency abroad) always charges more — decline it.

Currency values fluctuate based on interest rates, inflation, trade balances, political stability, and market sentiment. Central bank decisions (like rate hikes by the Fed or ECB) can cause large movements. For major pairs like EUR/USD, the rate changes continuously during market hours.

EUR/USD is the most traded (accounting for ~28% of daily forex volume). Next: USD/JPY, GBP/USD, AUD/USD, USD/CHF, USD/CAD. These 'major pairs' all involve USD. Pairs not involving USD are called 'cross pairs': EUR/GBP, EUR/JPY, GBP/JPY. The daily global forex market trades ~$7.5 trillion.