What Are Exchange Rates?

An exchange rate is the value of one currency for the purpose of conversion to another. It's how much it costs to exchange one currency for another.

Factors Influencing Rates

Exchange rates are determined by a variety of factors, including inflation rates, interest rates, political stability, and economic performance.

Tips for Currency Conversion

• Check the Mid-Market Rate: This is the real exchange rate, and what our tool uses.
• Watch Out for Fees: Banks and conversion services often add fees, so the rate you get might be different.
• Time Your Conversion: If you're converting a large amount, even small fluctuations in the rate can make a big difference.