Currency Converter
Real-time exchange rates for 20+ currencies
How Exchange Rates Work
Exchange rates represent the value of one currency relative to another. They fluctuate constantly based on supply and demand in the foreign exchange market, which processes over $7.5 trillion in daily transactions.
Exchange Rate Comparison Table
How to Get the Best Exchange Rate
- Compare providers — Banks charge 3-5% markup. Online services like Wise charge 0.5-1%. On $1,000, that saves you $20-40.
- Avoid airport kiosks — Airport exchange desks charge 7-15% markup, the worst rates available.
- Use a multi-currency card — Cards like Wise or Revolut offer near-interbank rates with no foreign transaction fees.
- Send large amounts at once — Fixed transfer fees mean smaller transfers have higher percentage costs.
Written by Finance Experts · Last updated September 2026
Frequently Asked Questions
How often do exchange rates change?
Exchange rates change continuously during market hours (24 hours/day, 5 days/week). Our rates are updated regularly from the Federal Reserve Economic Data (FRED) API. For travel or transfers, always check the rate at the time of transaction.
What is the mid-market exchange rate?
The mid-market rate is the midpoint between buy and sell prices on the global currency markets. It is the 'true' exchange rate. Banks and transfer services add a markup to this rate, so you always pay more than the mid-market rate.
How much do banks charge for currency exchange?
Banks typically charge a 3-5% markup on the mid-market rate, plus a flat fee of $5-15 per transaction. Online services like Wise (0.5-1%) and Revolut (0-1%) offer significantly better rates for most currencies.
Is it better to exchange money before or after traveling?
It depends on the destination. For major currencies (EUR, GBP, JPY), your debit card or a multi-currency card usually gives the best rate. For currencies with limited acceptance (THB, MXN), exchanging 20-30% before departure and using ATMs abroad is often best. Avoid airport exchanges.
What is a currency conversion fee?
A currency conversion fee is charged by your bank or card issuer when you make a purchase in a foreign currency. It typically ranges from 1-3% of the transaction amount. Some travel credit cards waive this fee entirely.
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