Currency Tools
1 free tools — precise calculations, instant results.
About Currency Tools
Our currency converter supports 170+ global currencies with live exchange rates from Open Exchange Rates, cached hourly for performance. All calculations use mid-market rates—the most accurate reference rate without bank spreads.
How Currency Exchange Rates Work
A currency exchange rate expresses how much of one currency you need to buy one unit of another. Rates are set by the foreign exchange (forex) market—the world's largest financial market, trading over $7.5 trillion daily. Rates fluctuate based on interest rate differentials, inflation rates, political stability, current account balances, and market speculation.
Mid-Market Rate vs Bank Rate
The mid-market rate (also called the interbank rate or spot rate) is the midpoint between the buy and sell prices of a currency. Banks and money transfer services add a 'spread'—typically 1–3%—above the mid-market rate as their profit margin. Our converter uses the pure mid-market rate for reference. When exchanging money, compare the effective rate you receive against the mid-market rate to calculate the hidden cost.
How API Caching Keeps Rates Accurate
Hitting a live forex API for every page view is wasteful and slow. Our converter fetches rates from the Open Exchange Rates API and caches them in your browser's localStorage for one hour. This means the first load fetches fresh rates, while subsequent visits within the hour use the cached rates instantly. Rates are within 1 hour of the current market price, suitable for reference and budgeting purposes.
Frequently Asked Questions
How often do exchange rates change?
Forex markets are open 24/5 (closed on weekends) and rates fluctuate every second. Our tool refreshes rates hourly—suitable for travel planning, budgeting, and invoice calculations. For large financial transactions, always verify with your bank or a regulated forex broker.
Why is the rate different from my bank?
Banks and money services add a spread (markup) above the mid-market rate. This spread is typically 1–4% but can be higher for exotic currencies. Our tool shows the pure mid-market reference rate without any markup.
Does this support cryptocurrency?
Currently this converter covers 170+ official fiat currencies. Cryptocurrency support (BTC, ETH, etc.) is planned for a future update.