Currency Converter
Most currency converters silently use a rate that may be hours or days old. This one takes the rate you enter — from your bank, broker, or a live quote — so the result is exact at the moment that matters, and the math is transparent. It also shows the inverse rate, so you can convert in both directions and spot a bad spread.
When to use this calculator
- Converting an amount using the exact rate your bank or broker quotes
- Checking a conversion both ways with the inverse rate
- Estimating the cost of an overseas purchase at today's rate
- Comparing a provider's rate against the mid-market rate to spot the spread
- Converting a freelance invoice to your home currency
- Budgeting travel spending at a known exchange rate
How it works
1 min readWhat is a currency converter?
It converts an amount of money from one currency to another using an exchange rate — the price of one currency in terms of another. This converter uses the rate you supply, so it's always current and the calculation is fully transparent.
How It Works
Enter the amount in the source currency and the exchange rate expressed as 1 source unit = X target units. The converted amount is amount × rate. The inverse rate (1 ÷ rate) lets you convert back from the target currency.
Formula
converted = amount × rate
inverseRate = 1 / rateWorked Example
Convert 250 EUR to USD at 1.08 (1 EUR = 1.08 USD):
| Step | Value |
|---|---|
| Converted | 250 × 1.08 = 270.00 USD |
| Inverse rate | 1 ÷ 1.08 = 0.9259 (1 USD = 0.9259 EUR) |
Why Enter Your Own Rate?
Exchange rates move continuously, and the rate your bank, card, or broker gives you usually differs from the mid-market rate by a spread (often 0.5%–3%). Entering the exact rate you're quoted gives a result you can trust — and comparing it to the mid-market rate reveals what the conversion really costs you.
Limitations
Frequently asked questions
How do I convert one currency to another?
Multiply the amount by the exchange rate, expressed as 1 source unit = X target units. For 250 EUR at a rate of 1.08 (EUR→USD): 250 × 1.08 = 270 USD. Enter the rate your provider quotes for an exact result.
What is the inverse exchange rate?
It's 1 divided by the rate, and it converts in the opposite direction. If 1 EUR = 1.08 USD, the inverse is 1 ÷ 1.08 = 0.9259, meaning 1 USD = 0.9259 EUR. The calculator shows it automatically.
Why does this converter ask me for the rate?
So the result is always accurate. Converters that use a built-in rate can be hours or days out of date. By entering the live rate from your bank, card, or a quote source, you avoid stale data and see exactly how the number is produced.
What is the mid-market rate?
It's the midpoint between the buy and sell prices of a currency on the global market — the 'real' rate before any markup. Banks and apps add a spread to it. Compare the rate you're offered against the mid-market rate (e.g., from a financial data site) to see the markup.
Why is the rate I get worse than the one online?
Providers add a spread (a margin on the rate) and sometimes a fixed fee. The online mid-market rate is the no-markup reference; your effective rate includes the provider's cut. Enter your actual quoted rate here for the true converted amount.
How do I find the current exchange rate?
Check your bank or card provider, a brokerage, or a financial data source for a live quote. For the mid-market reference, central banks and major financial sites publish rates. Use the rate that matches how you'll actually exchange the money.
Does the converted amount include fees?
No — it's the pure rate conversion. If your provider charges a fixed fee or a percentage on top of the rate, subtract those separately to get the net amount you'll receive. Entering the all-in effective rate is one way to capture the spread.
Which direction should I enter the rate?
Enter it as '1 unit of the currency your amount is in = X units of the target currency.' If your amount is in EUR and you want USD, use the EUR→USD rate (e.g., 1.08). The inverse rate output handles the reverse direction.