Currency Calculator
- Updated
- Formula shown
- Free, no sign-up
Loading the latest ECB reference rates…
How to use the currency calculator
- Choose the currency you have and the currency you want. The Swap button reverses them.
- Enter the amount. The conversion uses the latest ECB reference rate, loaded in your browser when the page opens, and shows the date it applies to.
- Optionally type the rate your bank, card or exchange office quotes in "Your rate". The calculator then converts at that rate and shows how far it is from the reference.
- If the live rates can't be loaded, type a rate yourself and the calculator still works.
Currency conversion formula
Inverse rate = 1 ÷ rate
Cross rate A→B = (B per EUR) ÷ (A per EUR)
Margin = (reference rate − your rate) ÷ reference rate × 100
The ECB publishes each rate as units of a currency per euro. To convert between two other currencies, such as US dollars to Japanese yen, the calculator divides one euro rate by the other: that is the cross rate. The inverse rate answers the reverse question, how much of the first currency one unit of the second buys. The margin shows how much worse a quoted rate is than the reference, as a percentage.
Where the rates come from
Rates are the euro foreign exchange reference rates published by the European Central Bank, fetched from the free Frankfurter service each time you open the page. The ECB usually updates them once a day, around 16:00 Central European Time, on working days, so over a weekend or holiday you will see the last working day's rates and their date. They are mid-market rates, halfway between buying and selling prices, and are published for information. Banks, card networks and money-transfer services set their own rates and fees, so treat the result as a benchmark rather than a quote. No rates are stored on this site.
Worked example
Suppose the reference rate is 1 USD = 0.9000 EUR. This is an example for the arithmetic, not today's rate; the calculator above shows the live one. Then $1,000.00 converts to €900.00, and the inverse rate is 1 EUR = 1.1111 USD.
If your bank offers 0.8730 EUR per dollar instead, you receive €873.00. The margin is (0.9000 − 0.8730) ÷ 0.9000 = 3%, which costs you €27.00 on this exchange, on top of any fixed fee.
What a margin costs on $1,000.00
Using the same example rate of 1 USD = 0.9000 EUR (not a live rate).
| Margin | Rate you get | You receive | Cost of the margin |
|---|---|---|---|
| 0.5% | 0.8955 | €895.50 | €4.50 |
| 1% | 0.8910 | €891.00 | €9.00 |
| 2% | 0.8820 | €882.00 | €18.00 |
| 3% | 0.8730 | €873.00 | €27.00 |
| 4% | 0.8640 | €864.00 | €36.00 |
| 5% | 0.8550 | €855.00 | €45.00 |
Tips for exchanging money
- Compare the rate, not just the fee. "No commission" offers often build their profit into a weaker rate. The margin shows the real cost.
- Pay in the local currency abroad. When a card terminal or ATM offers to charge you in your home currency, the conversion rate it uses is often worse than your card's own.
- Avoid exchanging at the last minute. Airport and hotel desks usually offer some of the widest margins.
- Rates move all day. The reference rate is a daily snapshot; the rate when you actually trade will differ.
Planning a budget for a trip? The budget calculator helps you plan spending. To see how prices change over time at home, try the inflation calculator.
Frequently asked questions
Where do the exchange rates come from?
From the European Central Bank’s euro reference rates, loaded through the free Frankfurter service when you open the page. The ECB usually updates them once a day around 16:00 CET on working days, and the calculator shows the date of the rates in use.
Why is my bank’s rate different?
The reference rate is a mid-market rate published for information. Banks, card providers and exchange services add a margin and sometimes a fee. For example, if the reference were 0.9000 and a bank offered 0.8730, its margin would be 3%, or 27 units on 1,000 converted.
How do I convert currency by hand?
Multiply the amount by the rate expressed as units of the target currency per one unit of yours. At an example rate of 1 USD = 0.9 EUR, $1,000 is €900. To go back, divide by the rate or multiply by the inverse, 1 ÷ 0.9 = 1.1111.
Are these rates live?
They are the latest published reference rates, which change once each working day, not second by second like trading rates. Over weekends and holidays you see the last working day’s rates.
What if the rates do not load?
Type the rate you were quoted into the “Your rate” box and the calculator converts with it. The rest of the page, including the table of common amounts, still works.