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Convert between 17 major and secondary currencies at live market rates, with an option to convert at a historical date.
Wondering how much your dollars are worth in euros, or how many yen you get for a pound? Exchange rates trip up experienced traders too. This guide from FXSpreadMeter breaks down how currency exchange actually works, what moves rates up and down, and how to use a converter correctly — alongside our current picks for the best forex brokers to trade through.
Written and fact-checked by the FXSpreadMeter research desk · Rates are indicative and may differ from your broker's or bank's actual rate.
Market data is provided by the third-party data provider and may be delayed or subject to the provider's terms. FXSpreadMeter does not guarantee the accuracy or completeness of third-party market data.
The converter uses interbank market rates. A broker or bank adds a spread and sometimes a conversion fee, so the amount you actually receive is lower.
Pick an earlier date to convert at that day's rate — useful when reconciling statements or checking a past deposit or withdrawal.
Profit, loss and margin are all settled in your account currency, so conversion is part of the real cost of trading a foreign-denominated pair.
Currency exchange is simply swapping one country's money for another — through a bank, an exchange counter, or for traders, a forex broker. When you exchange currency to trade, you are aiming to profit from the difference between what you pay and what you later sell for. The gap between a broker's buy and sell price is the spread, and it is one of the first things to check when picking where to trade.
A wider spread means small fluctuations matter less but every trade starts further underwater. A tighter spread is better for frequent, short-term trading. Compare spreads side by side in the FXSpreadMeter broker comparison.
An exchange rate is the price of one currency expressed in another. Most rates free-float, moving constantly with supply and demand, though some currencies are pegged to another with limits on how far they can drift.
Right now it takes well over a hundred Japanese yen to buy one US dollar, and a little more than one US dollar to buy one euro. Those numbers shift by the second, which is why FXSpreadMeter pulls live rates instead of quoting a fixed figure.
No single input sets a currency's price. Rates are the running total of everything below, repriced continuously by the market.
Stronger economies attract investment, which lifts demand for the local currency.
Higher policy rates pull in foreign capital chasing better returns, supporting the currency.
Persistently high inflation erodes purchasing power and usually weakens a currency.
Heavy borrowing can unsettle investors and soften demand for the currency.
Countries exporting more than they import tend to see steadier currency demand.
Inbound investment has to be funded in the local currency, so inflows add demand.
Uncertainty pushes capital toward currencies seen as safer.
Conflicts, elections and sanctions can reprice a currency within minutes.
Positioning and speculation can move rates even when fundamentals barely change.
Commodity-linked currencies drift with the price of what the country exports.
Because these forces pull in different directions at once, exchange rates stay volatile even on quiet days when nothing dramatic appears to be happening.
Start from the interbank rate — the baseline banks and institutions quote each other. The converter above and the rates table below both use it.
USD/CAD at 1.36 means one US dollar buys 1.36 Canadian dollars. The first currency is what you are pricing; the second is what you are pricing it in.
Brokers and banks add a markup on top of the market rate, and it is rarely displayed upfront. Ask for it before you convert.
Multiply the amount you are converting by the rate to get the result in the second currency.
Worked example: converting €500 at a rate of 1 EUR = 1.08 USD gives 500 × 1.08 = $540 before any broker markup.
To find how much foreign currency you will receive for your home currency, multiply your amount by the rate.
To find how much home currency you need to buy a set amount of foreign currency, divide that amount by the rate.
Not sure which way round it goes? Use the converter above and swap the from and to currencies — it handles the direction for you.
Exchange gain or loss is the profit or loss that comes purely from currency movement, separate from any return on the underlying asset. Convert into a currency that then strengthens and you realise a gain when you convert back; if it weakens, that is a loss.
You convert $10,000 into a foreign currency. Ten months later the same holding converts back to $10,600 — a $600 exchange gain, independent of any investment return.
Depending on your jurisdiction and holding period, such gains may be treated as ordinary income or as capital gains. FXSpreadMeter does not provide tax advice — speak to a qualified tax professional about your own situation.
Providers charge in one of three ways: a flat fee, a percentage markup, or a margin baked straight into the rate. The last is the hardest to spot and usually the most expensive.
Use the live converter on this page, a banking app, or your broker's platform. Keep in mind that quoted mid-market rates usually differ slightly from the rate you actually receive once a spread or fee is applied.
Most currencies free-float, so their price is set by real-time supply and demand. Economic releases, central bank decisions and news events all reprice them continuously through the trading week.
No. Rates and markups vary by provider, which is why FXSpreadMeter tracks spreads and conversion costs broker by broker in our comparison tables.
A converter shows you the math — what your money is worth at a given rate. An exchange service or broker actually completes the transaction, normally with a spread or fee added on top.
The US dollar remains the primary global reserve currency and sits on one side of most traded volume. Shares shift over time, so check the latest central bank survey rather than treating any figure as permanent.
Understanding exchange rates is step one. Step two is picking a broker with tight spreads, solid regulation and low conversion fees. Compare the brokers FXSpreadMeter rates highest and find the right fit for how you trade.
Compare top forex brokersFXSpreadMeter Ratings
Compare highly rated brokers across trading costs, platforms, regulation and overall conditions.
Rank #1
Rating
8.8 / 10
Rank #2
Rating
9.4 / 10
Rank #3
Rating
8.6 / 10
Rank #4
Rating
8.4 / 10
Rank #5
Rating
8.8 / 10
Rank #6
Rating
8.4 / 10
Affiliate disclosure: FXSpreadMeter may receive compensation from some broker partners when users register through links on our website. This does not guarantee a broker's suitability or performance. Trading involves significant risk.
