How exchange rates work
An exchange rate is simply the price of one currency in terms of another, and it shifts constantly based on trade flows, interest rates, inflation, and market sentiment between the two countries. This tool pulls a live mid-market rate — the midpoint between what banks buy and sell a currency for — which is the benchmark rate you'll see quoted in the news, not necessarily the exact rate a bank or exchange service will give you.
Getting the best rate when exchanging money
- Use the mid-market rate shown here as a benchmark before comparing offers
- Avoid airport and hotel currency counters, which typically charge the widest margins
- Check whether your card charges foreign transaction fees before traveling
- Watch for "0% commission" offers that make up the difference with a worse exchange rate
Frequently asked questions
Will my bank give me exactly this rate?
Usually not — banks and money-transfer services add a margin on top of the mid-market rate shown here, which is why it's worth comparing a few providers before exchanging a large amount.
How often do exchange rates change?
Continuously during market hours — major currency pairs can move many times per minute. The rate shown here reflects the latest available data at the time you load the page.
Exchange rates are provided by a third-party data source for informational purposes only and should not be used for trading or high-value transaction decisions.