Currency Converter

The mid-market rate (also called the interbank rate) is the midpoint between the buy and sell prices that large banks quote each other. It's the most honest reference rate for 'what's a euro worth in dollars right now,' and it's what financial news outlets, Google, and this calculator display.

Retail providers add a markup: traditional banks typically charge 3–5% above mid-market on a wire, plus a flat fee. Card networks (Visa, Mastercard) charge close to mid-market, but your card issuer may add a foreign transaction fee of 1–3% on top. Money-transfer services like Wise (formerly TransferWise), Revolut, and Currencyfair charge 0.4–1% above mid-market with no hidden FX margin — usually the cheapest option for individuals.

Always compare the all-in cost: take the amount you're sending, multiply by the provider's quoted rate, subtract any fixed fees, and compare the recipient's amount. The headline 'no fees' offer is sometimes the most expensive once the FX margin is included.

Currency markets are dominated by professional traders with better information than you have. For amounts under $10,000–20,000, the cost of trying to time the market — including the spread you'll pay either way and the risk of moving the wrong direction — usually exceeds the upside. Convert when you need the money, not when you think the chart looks favorable.

For larger or recurring conversions (an expat paid in one currency and spending in another, an importer with regular invoices), consider forward contracts or limit orders through a service like Wise or OFX. A forward contract locks in today's rate for a future date, eliminating the FX risk on a known future payment.

Avoid airport currency exchanges. The combined spread is typically 8–12%, which is among the worst rates available anywhere. Withdraw local currency at an in-network ATM with a no-foreign-fee debit card, or pay with a no-foreign-transaction-fee credit card.

When you pay by card overseas, the terminal sometimes asks 'do you want to be charged in USD or in the local currency?' Choosing USD is dynamic currency conversion (DCC) — the merchant's bank does the conversion at a markup of 4–8% above mid-market and pockets the spread.

Always choose the local currency. Your card issuer will then convert at the network rate (Visa or Mastercard rate, very close to mid-market) plus your card's own foreign transaction fee, if any. The combined cost is almost always lower than DCC.

If a merchant or hotel processes the charge in USD without asking, request a re-charge in the local currency. Reputable hotels and merchants will do this; if they refuse, dispute the transaction with your card issuer.