Currency Converter
Exchange rates decide what a foreign purchase, salary or transfer really costs, and the rate you get is never quite the rate you see quoted. This converter handles the arithmetic; the content below covers the part that actually costs travellers and freelancers money — spreads, fees and conversion direction.
Inputs
Result
8,320
at a rate of 83.2
How the currency converter works
Converted amount = amount × rate, where the rate is quoted as units of the target currency per one unit of the base currency.
To reverse a conversion, divide instead of multiply — or use 1 ÷ rate. Mixing up direction on a rate like 0.011 versus 91 is the most common error in currency maths.
Your effective rate after costs = amount received ÷ amount sent. That single figure exposes hidden margins better than any advertised 'zero commission' claim.
Worked example: sending 1,000 USD to INR
- Mid-market rate: 1 USD = 83.20 INR, so 1,000 USD = 83,200 INR.
- A provider quoting a 1.5% spread uses 81.95, delivering 81,950 INR.
- Add a 5 USD transfer fee and only 995 USD is converted: 81,540 INR.
- Effective rate = 81,540 ÷ 1,000 = 81.54, which is 2% below mid-market.
- The 'no commission' service therefore cost about 1,660 INR.
Common mistakes to avoid
Comparing providers on fees instead of the delivered amount
A zero-fee provider with a 2.5% spread is worse than a 5 USD fee with a 0.4% spread on any meaningful transfer. Always compare the amount that arrives.
Accepting dynamic currency conversion at a card terminal
Choosing to be billed in your home currency abroad typically adds 3–6%. Always pay in the local currency and let your own bank convert.
Using an old rate for a budget
Rates can move several percent in a month. For future travel or contracts, budget with a buffer or hedge the amount.
Frequently asked questions
What is the mid-market rate?
The midpoint between global buy and sell prices — the rate you see on search engines. No retail provider gives you exactly this; the gap is their margin.
Why does my card charge more than the quoted rate?
Networks apply their own daily rate, and many issuers add a foreign transaction fee of 1–3% on top.
How do I convert in the other direction?
Divide by the rate. If 1 EUR = 1.09 USD, then 500 USD = 500 ÷ 1.09 = 458.72 EUR.
Is it cheaper to exchange cash before travelling?
Airport and hotel counters are usually the most expensive option. A low-fee card used in local currency almost always beats physical exchange.
How should freelancers price in a foreign currency?
Quote with a buffer of 2–4% for rate movement plus your payment processor's conversion cost, or invoice in your own currency where the client allows it.
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