Currency converter,
real-time rates.

Field guide

How a currency converter works.

Every conversion involves three numbers: the amount, the source currency, and the target currency. Behind the scenes, a converter looks up the published exchange rate for that pair, multiplies the amount by it, and returns the answer. That sounds trivial and the math really is, but the interesting part is where the rate comes from.

Where exchange rates come from

Currencies trade continuously on the global FX market, the largest financial market in the world (~$7.5 trillion of daily turnover, per the BIS). Prices change tick-by-tick, so every published “rate” is really a snapshot of one specific moment. The most authoritative public snapshot is the European Central Bank's daily reference rate, published once per business day at around 16:00 CET. That's the rate this calculator uses, sourced via the free, ECB-fed Frankfurter API.

Mid-market vs. retail rates

The ECB reference rate is a mid-market rate — the midpoint between the buy (bid) and sell (ask) prices on the wholesale market. Retail providers (high-street banks, debit cards, money-transfer services, airport kiosks) charge a markup on top, typically 1–4%, plus fixed fees. So a converter showing 1 USD = 0.92 EUR describes the wholesale reality; you should expect to receive about 0.88–0.91 EUR at retail.

That gap is how providers make money. The closer their quoted rate is to mid-market, the better the deal — fintech cards (Revolut, Wise) typically get within 0.3–1.0% of mid-market on weekdays; airport bureaux can take 8–12%.

The math, in one line

Once you have a rate, conversion is straightforward. Internally we hold all rates as “units of currency per 1 USD” and pivot through the dollar:

For example, converting 100 GBP to JPY with rates GBP=0.79 and JPY=152:

Why two converters can disagree

Different aggregators source rates from different feeds: ECB reference rates (used here), interbank rates from Reuters or Bloomberg, card-network rates from Visa or Mastercard, or the live mid-market on a specific exchange. All of them are “real,” but they sampled the market at different moments. That produces small disagreements, usually under 0.5%.

Currencies covered here

22 currencies, weighted toward global trade volume and Israeli/MENA traffic:

• G10 majors: USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD, SEK, NOK
• Asia-Pacific: CNY, HKD, SGD, INR, KRW
• Emerging markets: MXN, BRL, ZAR, ILS, TRY, PLN
• Other Nordic: DKK

Together they cover well over 90% of global FX turnover. If you need a currency that's not on the list, the ECB feed publishes about a dozen more — let us know and we'll consider adding it.

Worked example: converting GBP to ILS

A traveller wants to convert £500 to Israeli shekels on a day where 1 USD = 0.79 GBP and 1 USD = 3.71 ILS:

That's the mid-market rate. A retail conversion (bank, card, kiosk) will return ~2,260–2,330 ILS depending on the markup and any fixed fees.

Tips for getting closer to the mid-market rate

• Multi-currency cards. Wise, Revolut, and similar fintechs charge a small spread (0.3–1.0%) instead of a hidden markup, often beating banks by 2–3%.
• Avoid airport bureaux. Convenience comes at an 8–12% markup — almost always the worst rate available.
• Skip dynamic currency conversion (DCC). Cards offering to charge you in your home currency at the point of sale always lose 3–6% to the merchant's markup. Choose the local currency.
• Compare on a Wednesday or Thursday. Mid-week tends to have the tightest spreads; weekend rates carry an over-the-weekend risk premium.

Disclaimer

Calculations are educational estimates based on the ECB reference rate. They are not a quote, are not binding, and are not financial, accounting, or tax advice. For an actual transaction, always confirm the rate quoted by the provider that will execute it.