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WriterAbir KhanWriterWrites the guides · checks every figure against primary sources View profileAbout Abir →
Written byAbir KhanWriter
Market analysisTanbir Habib RiyadForex & Crypto AnalystForex and crypto analyst · technical and fundamental analysis View profileAbout Tanbir →
Market analysis byTanbir Habib RiyadForex & Crypto Analyst
Fact-checking & riskJannatul FerdaushFact-Checker & Risk AnalystFact-checks every figure · risk analysis · Applied Statistics, University of Dhaka View profileAbout Jannatul →
Fact-checked byJannatul FerdaushFact-Checker & Risk Analyst
Trading reviewJowel RanaCo-Founder & Forex TraderCo-founder · forex trader · reviews guides from a trader's view View profileAbout Jowel →
Reviewed byJowel RanaCo-Founder & Forex Trader
Final approvalRanjan NiskrityFounder, Owner & Forex TraderFounder and owner · forex trader · signs off every guide View profileAbout Ranjan →
Approved byRanjan NiskrityFounder, Owner & Forex TraderLast verified Rates refresh daily; guide reviewed
The converter shows mid-market reference rates for information only. Banks, card issuers, transfer services and brokers apply their own rates and fees. Forex and CFD trading carries a high risk of losing money rapidly due to leverage.
How the currency converter works
A currency converter multiplies your amount by an exchange rate. Ours uses the mid-market rate: the midpoint between the prices at which banks buy and sell a currency on the wholesale market. It is the fairest single figure for what one currency is worth in another, and the benchmark every other quote should be measured against.
The converter's rates come from ExchangeRate-API and refresh once a day, with the update time shown under each result. For the price right now, the chart beside the converter streams the pair from TradingView throughout the trading week.
Currency conversion sits behind most cross-border activity: importers paying suppliers, workers sending wages home, travellers, online shoppers and traders funding accounts. The rate is the same benchmark for all of them; the margin each one pays differs widely.
How to convert currency by hand
Four calculations cover almost every conversion. The rates below are illustrative; use today's figures from the converter.
Multiply by the rate
Amount × rate = result. At an illustrative USD/INR rate of 95.00, $250 × 95.00 = ₹23,750.
Divide for the reverse
To go back, divide by the same rate, or multiply by its inverse (1 ÷ 95.00 = 0.010526). ₹23,750 ÷ 95.00 = $250.
Build a cross rate through USD
With no direct quote, go through the dollar. If USD/AED is 3.6725 and USD/BDT is 122.00, then AED/BDT = 122.00 ÷ 3.6725 = 33.22.
Measure a provider's margin
Divide the rate you are offered by the mid-market rate and subtract 1. A bank offering 92.15 against a mid-market 95.00 is 3% worse.
What you really pay to convert money
The mid-market rate is the wholesale price. This is what each common route adds on top.
| Route | Typical cost | Verdict |
|---|---|---|
| Banks (international transfers) | Averaged 14.99% of a $200 transfer in the World Bank's Q3 2025 survey, counting fees and the rate margin | Often the most expensive way to send small amounts |
| Digital transfer services | Digital-only money transfer operators averaged about 3.5% in the same survey | Usually the cheapest for remittances; compare several |
| Card payments abroad | Card network rate plus your bank's foreign transaction fee, commonly 0% to 3% | Cards with no foreign transaction fee cost least |
| Dynamic currency conversion | Paying in your home currency at a foreign terminal; consumer studies found markups of about 3% to 12% | Always choose the local currency |
| Airport and hotel exchange | Wide buy-sell margins on cash, often the worst rates you will see | Change only what you need for the first day |
| Forex broker deposits | Conversion fee if you fund an account in a currency other than its base currency | Open the account in the currency you deposit |
Sending money home: cutting remittance costs
Remittances are among the largest money flows into South Asia, the Philippines and much of Africa. The World Bank's Remittance Prices Worldwide survey put the global average cost of sending $200 at 6.36% in the third quarter of 2025, more than double the UN Sustainable Development Goal target of 3%. Banks were the most expensive channel at 14.99%; digital-only services were the cheapest.
The fee is only half the cost. Most of the rest hides in the exchange rate, which is why the useful comparison is the amount your family receives, not the fee on the screen. Check a provider's rate against the mid-market rate in the converter above; a gap of more than 1% to 2% on a common corridor is worth questioning.
- Compare the amount received
Enter the same sum on two or three services and compare what arrives, after all fees.
- Use licensed providers
Send through banks, exchange houses and apps licensed in both countries. Informal hawala and hundi channels carry legal and loss risks.
- Send larger, less often
Fixed fees weigh less on bigger transfers, where your budget allows it.
- Watch official incentives
Some countries, including Bangladesh and Pakistan, have offered incentives for remittances sent through formal channels. Check current schemes with your bank.
Paying by card abroad: say no to home-currency pricing
When a shop terminal or ATM abroad asks whether to charge you in your home currency, it is offering dynamic currency conversion. The merchant's provider sets that rate, and consumer studies in Europe have found markups of roughly 3% to 12% over the card network's rate.
Pick the local currency instead and the conversion goes to Visa or Mastercard, whose rates sit close to the mid-market rate. Your bank may add a foreign transaction fee on top, so a card without one is the cheapest way to spend abroad.
Rule of thumb: at a card terminal or ATM abroad, always choose to pay in the local currency.
Pegged and managed currencies
Some currencies do not float freely, which explains why some move in step and helps you read their rates.
| Currency | Regime | What it means for conversions |
|---|---|---|
| Gulf currencies | Fixed to the US dollar | The UAE dirham (3.6725 per dollar), Saudi riyal (3.75), Qatari riyal (3.64), Omani rial (0.3845) and Bahraini dinar (0.376) are pegged. Their rates against any currency move almost exactly as the dollar does. The Kuwaiti dinar tracks an undisclosed basket. |
| Hong Kong dollar | Band against the dollar | Held between 7.75 and 7.85 per US dollar by the Hong Kong Monetary Authority. |
| Nepalese rupee | Fixed to the Indian rupee | Pegged at 1.6 Nepalese rupees per Indian rupee, so NPR moves with INR against other currencies. |
| Chinese yuan | Managed band | Onshore yuan trades within 2% of the People's Bank of China's daily fixing; offshore yuan (CNH) trades freely. |
| Singapore dollar | Basket band | The Monetary Authority of Singapore manages it against an undisclosed basket of currencies. |
| Taka, rupees, dong | Managed floats | Bangladesh, Pakistan, India and Vietnam let their currencies move while their central banks smooth sharp swings. Bank and open-market rates can differ from screen rates. |
Currency conversion for forex traders
For traders, conversion is part of every result. These are the places it shows up.
Account currency
Profits, losses, swaps and fees are booked in your account's base currency. Trading gold in a GBP account means every result is converted from dollars.
Deposit conversion
Funding a USD account from a taka or rupee bank account triggers a conversion at your bank's rate. That cost comes before your first trade.
Pip value
A pip on EUR/USD is worth $10 per standard lot; in a EUR or INR account it is converted at the current rate. The pip calculator does this for you.
Position size
Risking 1% of an account in one currency on a pair quoted in another needs a conversion step. Use the position size calculator rather than rounding.
Worked example: choosing a transfer from Dubai to Dhaka
- The benchmark
Karim wants to send AED 2,000 to Dhaka. The converter shows a mid-market rate of 33.22 taka per dirham, so the fair value is ৳66,440.
- Quote one: bank
The bank offers 32.20 with an AED 25 fee: (2,000 − 25) × 32.20 = ৳63,595. That is ৳2,845, or 4.3%, below fair value.
- Quote two: licensed app
A licensed transfer app offers 33.00 with no fee: 2,000 × 33.00 = ৳66,000, just 0.7% below fair value.
- The choice
The app delivers ৳2,405 more on one transfer. Over twelve monthly transfers, that adds up to about ৳28,900.
Karim learned little from the headline fee. Comparing the amount received against the mid-market rate showed the real price of each service.
Currency codes and symbols
Converters and banks use three-letter ISO 4217 codes: the first two letters name the country, the third the currency. Symbols can be shared, so the code is the safer reference.
Trading calculators and broker tools
Run the numbers before the trade, then pick a broker that fits.
Common currency conversion mistakes
No bank or app will give you the mid-market rate; it is the yardstick for judging their offer.
A "zero fee" transfer with a poor rate can cost more than a small fee with a fair one.
Dynamic currency conversion adds a hidden markup. Choose the local currency.
Airport counters are among the most expensive places to buy currency.
Unlicensed remittance routes risk your money and may break the law in both countries.
Repeated conversion on every deposit and withdrawal quietly adds up.
Add this tool to your website
Run a forex blog, course or community? Embed the currency converter on your own site for free. It works on any page that accepts HTML, resizes itself and stays up to date.
Free to use on any site. Please keep the credit line under the widget.
Currency converter FAQs
Is this currency converter accurate?
It uses the mid-market rate from ExchangeRate-API, refreshed once a day, and shows the update time under each result. For the price at this moment, use the live TradingView chart beside the converter.
Why is my bank's rate different from the converter?
Banks, card providers and transfer services add a margin to the mid-market rate and may charge fees. The converter shows the benchmark; the difference between it and your quote is what the service charges you.
What is the mid-market rate?
The midpoint between the buy and sell prices of a currency on the wholesale market. It has no margin built in, which makes it the fairest reference rate.
How do I convert currency without a converter?
Multiply the amount by the exchange rate. To reverse, divide by the same rate. For two currencies without a direct quote, divide their rates against the US dollar.
What is the cheapest way to send money abroad?
Usually a licensed digital transfer service. The World Bank found digital-only providers averaged about 3.5% on a $200 transfer in Q3 2025, against almost 15% for banks. Compare the amount received, not just the fee.
Should I pay in local currency or my home currency abroad?
Local currency. Paying in your home currency lets the merchant's provider set the rate, usually with a markup of several percent.
Why do AED, SAR and QAR move together against the rupee and taka?
All three are pegged to the US dollar, so their rates against other currencies move in step with the dollar.
How many currencies does the converter support?
35, including every G10 currency, the main Gulf, South Asian and Southeast Asian currencies, and the rand, naira, shilling, lira, peso and real.
Does the converter work on mobile?
Yes. It runs in any modern browser, needs no sign-up, and your last pair is not stored or shared.
Sources: World Bank Remittance Prices Worldwide, ExchangeRate-API, TradingView market data, Hong Kong Monetary Authority: Linked Exchange Rate System.