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Currency Conversion

Currency Converter

Convert Currencies

Use live exchange rates to convert between currencies

Table of Contents

Live Exchange Rates

Current Exchange Rates

Base currency: USD

CurrencyRate
USDN/A
EURN/A
GBPN/A
JPYN/A
AUDN/A
CADN/A
CHFN/A
CNYN/A
INRN/A
BTCN/A

Currency Conversion Formulas

The basic formula for currency conversion is:

Amount in target currency = Amount in source currency × Exchange rate

Where the exchange rate is expressed as: Target currency per 1 unit of source currency

For cross-currency conversions (not involving USD), the formula is:

Cross rate = Rate(A/USD) ÷ Rate(B/USD)

Where A is the target currency and B is the source currency

Interesting Currency Facts

  • The US dollar is the world's most traded currency, involved in 88% of all forex trades.
  • The Euro is the official currency of 19 out of the 27 member states of the European Union.
  • The British Pound is the oldest currency still in use, dating back to the 8th century.
  • Bitcoin, created in 2009, was the world's first decentralized cryptocurrency.
  • The forex market is the largest financial market in the world, with over $6.6 trillion traded daily.

Currency Knowledge Quiz

Test your currency knowledge with our interactive quiz!

History of Currency

  • Ancient times: Barter system and commodity money (e.g., shells, salt)
  • 600 BCE: First minted coins in Lydia (modern-day Turkey)
  • 11th century: First paper money in China
  • 17th century: Goldsmiths in England issue receipts for stored gold, leading to modern banking
  • 1944: Bretton Woods Agreement establishes the US dollar as the world's reserve currency
  • 1971: US abandons the gold standard, leading to the modern era of fiat currencies
  • 2009: Bitcoin, the first decentralized cryptocurrency, is created

Factors Affecting Exchange Rates

  • Interest rates set by central banks
  • Inflation rates in different countries
  • Political stability and economic performance
  • Government debt levels
  • Trade balances between countries
  • Speculation in the forex market
  • Natural disasters and geopolitical events

Popular Currency Pairs

  • EUR/USD (Euro/US Dollar) - "Fiber"
  • USD/JPY (US Dollar/Japanese Yen) - "Gopher"
  • GBP/USD (British Pound/US Dollar) - "Cable"
  • USD/CHF (US Dollar/Swiss Franc) - "Swissy"
  • AUD/USD (Australian Dollar/US Dollar) - "Aussie"
  • USD/CAD (US Dollar/Canadian Dollar) - "Loonie"

Glossary of Currency Terms

Exchange Rate
The value of one currency for the purpose of conversion to another.
Forex (Foreign Exchange)
The market in which currencies are traded.
Base Currency
The first currency quoted in a currency pair.
Quote Currency
The second currency quoted in a currency pair.
Spot Rate
The current market price for immediately exchanging one currency for another.

Frequently Asked Questions