How this works

Exchange rates here come from the European Central Bank's daily reference rates, updated on banking days. The ECB publishes a reference rate for approximately 30 currencies, all expressed relative to the Euro. This tool converts those rates to allow any pair of supported currencies to be compared directly, using USD as an intermediate pivot.

These are reference rates — the theoretical mid-market rate between buy and sell prices. When you actually exchange money, whether at a bank, currency exchange counter, or using a card abroad, you'll receive a worse rate. That difference is how financial institutions profit on the transaction.

How financial institutions mark up exchange rates

Retail banks

Typically add a 2–4% margin on top of the mid-market rate when you buy foreign currency in cash or wire money internationally. Exchange rates displayed at bank branches are usually among the least competitive.

Credit and debit cards

Most major card networks (Visa, Mastercard) convert at rates very close to the mid-market rate, then the card issuer adds a foreign transaction fee of typically 1–3%. Cards marketed as "no foreign transaction fee" cards pass through the network rate with no additional markup, making them the most cost-efficient option for international spending.

Airport and hotel currency exchanges

These typically carry the highest markups — 5–10% or more — due to their captive customer base. Avoiding them if at all possible is strongly advised.

Specialised transfer services

Services like Wise (formerly TransferWise) and Revolut operate at or very close to the mid-market rate with transparent, low flat fees. For large international transfers, they often represent significant savings over traditional bank wire transfers.

Why exchange rates change

Currency values fluctuate constantly based on interest rate differentials between countries, inflation data, trade balances, political events, and market sentiment. Even within a single trading day, rates can move by fractions of a percent. For large amounts, the timing of a transaction can matter. For everyday travel spending, the variation is usually negligible compared to the markup you pay on the transaction itself.

Frequently asked

Why don't rates update on weekends?

The European Central Bank publishes reference rates on banking business days only. Weekend and public holiday conversions use the most recent available rate from the prior business day, which is noted in the rate line below the result.

Why is the rate different from what my bank charged me?

Banks add a margin on top of the mid-market rate and may also charge a flat fee or percentage fee on top of that. The rate shown here is the underlying reference rate before any markup — think of it as the wholesale price for a currency, before retail margins are applied.

What currencies are supported?

The converter supports all currencies in the ECB's daily reference rate dataset — approximately 30 currencies covering the US dollar, Euro, British pound, Japanese yen, Canadian dollar, Australian dollar, Swiss franc, Chinese yuan, and most other major traded currencies.

How do I get the best rate when travelling?

Use a no-foreign-transaction-fee credit card for purchases where accepted, withdraw local currency from ATMs using a bank account with no international ATM fees, and avoid airport currency exchange counters. These three habits capture the majority of the savings available on travel spending.