Free Currency Converter — Live Exchange Rates

How to Use This Currency Converter

Converting currencies is simple with this tool. Enter the amount you want to convert, choose the currency you are converting from, and select the currency you want to convert to. Click Convert, and you will see the converted amount, the exchange rate used, and the inverse rate for your reference.

This converter supports five of the most commonly used currencies for our readers in the United States, United Kingdom, Canada, Europe, and Australia: USD (US Dollar), GBP (British Pound Sterling), CAD (Canadian Dollar), EUR (Euro), and AUD (Australian Dollar).

The rates shown here are approximate mid-market rates — that is, the midpoint between buy and sell rates on global currency markets. These are the "real" exchange rates you will see on financial news sites. Keep in mind that when you actually exchange money through a bank, money-transfer service, or airport kiosk, you will usually get a slightly less favorable rate because the provider adds a margin or fee.

Understanding Exchange Rates

An exchange rate tells you how much one currency is worth in terms of another. When you see "1 USD = 0.79 GBP," it means one US dollar buys about 79 British pence. Exchange rates fluctuate constantly based on economic factors, interest rates, inflation, political events, and market sentiment.

There are two key types of exchange rates you will encounter:

• Mid-market rate (also called the interbank rate): This is the real exchange rate that banks use when trading currencies with each other. It is the fairest rate and the one financial news sites report. Our converter uses approximate mid-market rates.
• Retail rate: This is the rate banks and money-transfer services offer to consumers. It includes a markup — sometimes called a spread or margin — which is how the provider makes money. The difference between the mid-market rate and the rate you are offered is effectively a hidden fee.

How to Get the Best Exchange Rate

Whether you are sending money to family abroad, paying international invoices, or planning a trip, the exchange rate you get matters. Here are proven strategies for getting more value from your conversions:

Compare multiple providers. Banks often charge the highest margins on currency exchange — sometimes 3 to 5 percent above the mid-market rate. Online money-transfer services like Wise, OFX, and Remitly typically offer rates much closer to the mid-market rate with transparent, lower fees. Always compare at least two or three options before sending money.

Avoid airport and hotel exchanges. Convenience comes at a cost. Airport currency exchange kiosks and hotel front desks typically offer some of the worst rates available, with markups of 5 to 10 percent or more. If you need cash abroad, withdrawing from an ATM with a debit card that charges no foreign transaction fee is almost always cheaper.

Watch the timing. Exchange rates move throughout the day and week. While you cannot perfectly time the market, avoiding conversions during periods of high volatility — like right after major political events or central bank announcements — can help you avoid unfavorable rates. For large sums, some services let you set a rate alert that notifies you when your target rate is reached.

Use a no-fee travel credit card. If you are spending abroad rather than sending money, a credit card with no foreign transaction fees gives you the card network's exchange rate, which is typically very close to the mid-market rate. This is one of the cheapest ways to pay for things in another currency.

Common Currency Pairs Explained

The five currencies in our converter are among the most traded in the world. Here is a quick overview of each:

USD (US Dollar) is the world's primary reserve currency. It is involved in roughly 88 percent of all foreign exchange trades. The US dollar's value is influenced heavily by Federal Reserve policy, US economic data, and global risk appetite.

EUR (Euro) is the official currency of 20 European Union countries. It is the second most traded currency globally. The European Central Bank's monetary policy is the main driver of the euro's value.

GBP (British Pound Sterling) is one of the oldest currencies still in use. It tends to be stronger per unit than the dollar or euro, though that does not mean the UK economy is "stronger" — it simply reflects historical denomination choices.

CAD (Canadian Dollar) is closely tied to commodity prices, especially oil, because Canada is a major energy exporter. The Bank of Canada's interest rate decisions also play a key role in the CAD's value.

AUD (Australian Dollar) is another commodity-linked currency, influenced by Australia's exports of iron ore, coal, and natural gas, as well as the Reserve Bank of Australia's policy decisions.

Sending Money Internationally

If you need to transfer money to another country, simply knowing the exchange rate is just the starting point. Transfer fees, delivery speed, and payment methods all affect the total cost. Our detailed guide walks you through the cheapest and fastest ways to send money across borders: How to Send Money Internationally — The Complete Guide