If you are traveling to another country, knowing the currency conversion rate will give you a good idea of how much things should cost. Hopefully this will keep you from getting scammed while on vacation, and can help you make smart buying decisions while abroad. Knowing the monetary conversion can also be beneficial for making online purchases. Many online retailers you use might be located in a country that uses a different currency such as: the Euro, Pound, or Japanese Yen. Keeping up with different currency exchange rates can help you decide when is the best time to make your purchase, and keep you from getting confused when you think something is much cheaper than it actually costs.
How well or poorly foreign currencies stack up with other currencies can dictate market trends and purchases for consumers worldwide. Traders all over the globe can buy and sell currencies around the clock in the Foreign Exchange or Forex market, excluding weekends. Some estimates suggest that over 3.2 trillion dollars are traded on the Forex market every day, thus making it one of the largest traded markets around the world.
Whether you are trading currencies from around the globe on a daily basis or just need to know how your money stacks up against another for a vacation you are planning, we have a calculator in this section to help. We have broken the calculators up to make it easy to find the one you need to use. Remember, currency exchange rates are changing constantly. This will give you a good estimate of how the money will convert, but may not be precise at the time of the transaction.
The rates provided here come from the European Central Bank and are updated one time per day. These rates, while not actual live rates, are fairly accurate from day to day as the markets fluctuate. We always advise double checking a live market rate before making any large financial transactions.