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Use our currency converter to get the latest exchange rates. Simply change the currencies in the form above and the exchange rate will update.
Alternatively, use the graph below to check the exchange rate in the past 7 days, 1 month, or 1 year.
Exchange rates explained
An exchange rate is the value of one currency when converting it to another currency.
For example, the US dollar-to-pound sterling exchange rate is how many pounds sterling you would get in exchange for one dollar.
For you, this means that when you are sending money abroad, for example from the US to the UK, you are essentially buying pounds with your dollars.
Finding and getting the best exchange rate
Using our MoneyTransfers.com comparison tool is the easiest way to find out how to get the best exchange rates for your money transfer.
We scour the market to find the best deals from the biggest providers, helping you to compare them by the exchange rates offered, transfer fees, transfer times, and more.
To get started, simply fill in the form below and get the best rates for your transfer.
But to give yourself the biggest chance of getting a favorable rate on your transfer, we would recommend you also:
Check the mid-market rate
Exchange rates fluctuate by the minute, so if you know you’ll be sending money along a specific route sometime in the future, staying on top of movements can help you time your transfer and get a better rate
Sign up for rate alerts
MoneyTransfers.com rate alerts can help you do this, giving you weekly, bi-weekly, or monthly updates for as many currency pairs as you choose
Choose the right provider
Ensuring you have the right provider for your transfer needs helps you keep costs low, whether it’s for specific payment or delivery methods or friendlier rates for the amount you want to send
Need to take currency abroad?
We've conducted a thorough review of the leading figures in the currency brokerage industry. We've done this to bring our readers the best in the business. Our goal? To give you an insider's look into the world of the best currency brokers..jpg)
Frank DayOctober 10th, 2024
Before you buy your pounds, you should make sure you’re getting the best deal. To save money, consider using cheaper ways to exchange currencies, such as opening a multi-currency account.Frank DayOctober 10th, 2024
Frank DayMay 3rd, 2024
Before exchanging your dollars for Japanese yen, you should check the different ways you can buy them to make sure you get the best deal. Multi-currency accounts are the cheapest and most convenient way to get Japanese yen and spend them overseas.Frank DayMay 3rd, 2024
Frank DayOctober 10th, 2024
Before exchanging your American dollars for Canadian dollars, you should make sure you’re getting the best deal. Exchanging dollars using traditional methods can be costly. But using online multi-currency accounts is easier and cheaper for spending money abroad.Frank DayJune 20th, 2024
Mid-market exchange rates
The mid-market exchange rate, sometimes known as the interbank rate, is the midpoint between the buying and selling price for each currency involved in the transaction.
It’s essentially the standard exchange rate for the transaction, determined by natural market forces and agreed upon by the world’s major banks.
Some providers such as Wise offer the mid-market exchange rate for their money transfers, and this will likely be the best rate on offer for your transfer.
Other providers may add a small margin to their exchange rates, which lets them make a profit off of the conversion. However, some might publish these openly, for example, XE publicly shows their rates, whereas others will hide it.
To get a good deal, you need to know the current mid-market rate, which you can find in the table below (for EUR/USD pair).
| EUR | USD Price |
|---|---|
| 1 EUR | 1.05 |
| 5 EUR | 5.25 |
| 10 EUR | 10.49 |
| 25 EUR | 26.23 |
| 50 EUR | 52.46 |
| 100 EUR | 104.93 |
| USD | EUR Price |
|---|---|
| 1 USD | 0.95 |
| 5 USD | 4.77 |
| 10 USD | 9.53 |
| 25 USD | 23.83 |
| 50 USD | 47.67 |
| 100 USD | 95.34 |
Currency forecasts
Unsure when is the right time to buy your currency? Use these currency forecasts to get an idea of what is happening on the market.
USD to CAD, also known as the loonie, is a popular forex pair because of the strong business relationship between the two countries. They both are parts of the United States, Mexico, and Canada Agreement (USMCA), which replaced NAFTA in 2020. As a result, the two countries do goods trade every year.
Crispus NyagaJuly 1st, 2024
The GBP/USD forex exchange rate has had a long history because of the strong business and social ties between the United States and the United Kingdom. The British pound was created in 1694 after the UK formed the Bank of England (BoE) while the US dollar was created in 1794.Crispus NyagaJuly 1st, 2024
Europe and the United States always had close economic and social ties which were done using the US dollar and local currencies for a long time. Germany had Deutsche Mark while France had the franc and Italy had the lira, all these changed on January 1999 when the European Union introduced using a common currency known as the euro.Crispus NyagaJuly 1st, 2024
The UK and the European Union have had a long historical relationship. The UK joined the European Economic Community in 1973 which was a key part of the formation of the European Union (EU) in 1993.Crispus NyagaJuly 1st, 2024
The GBP/CAD pair has had a long history due to the close trading relationship between the UK and Canada. They both are western allies and members of the G7, G20, OECD, and other organizations.Crispus NyagaJuly 1st, 2024
The US and the Philippines have a long economic and social relationship. After going through a major war between 1899 and 1902, the two countries maintained a cordial relationship over the years and do trade worth billions of dollars.Crispus NyagaJuly 1st, 2024
The USD/MXN cross has been around for decades because of the close geographical and economic relationship between the United States (US) and Mexico. Mexico started using the Peso during its colonial period while the US dollar was introduced in 1862.Crispus NyagaJuly 1st, 2024
The euro to Turkish lira is a relatively popular cross-currency pair, thanks to the close relationship between the European Union and Turkey. Both countries play an important role in the global economy since they are members of the North Atlantic Treaty Organisation (NATO).Crispus NyagaJuly 1st, 2024
The euro to Canadian dollar pair is a forex cross-currency pair made up of the European Union and Canadian currencies. The EU is the second-biggest economy in the world, with a combined GDP of over $16 trillion and a population of over 447 million people. Canada, on the other hand, is the tenth largest economy with a GDP of over $1.6 trillion and 36 million people.Crispus NyagaJuly 1st, 2024
The overall weakness of the Colombian Peso against the USD reflects the disparities between the two economies. On the one hand, the US is a diversified economy with a GDP of over $23 trillion and a population of over 330 million. Conversely, Colombia is an emerging market with about 62 million people and a GDP of over $361 billion.Crispus NyagaJuly 1st, 2024
The US and Australia have had a friendly relationship and have always done trading with each other. In the past, the US dollar and the Australian pound were used for trading. However, in February, Australia moved from the pound and introduced the Australian dollar, commonly known as the AUD. The ISO standard for the Australian dollar and the US dollar is AUD/USD.Crispus NyagaJuly 16th, 2024
Taiwan and the US have had trade ties for decades. The US dollar was established in the 1800s while the new Taiwan dollar was created in 1949. At the time, it replaced the old Taiwan dollar, which was plagued by hyperinflation of the time.Crispus NyagaJuly 1st, 2024
The US and India are among the biggest economies in the world in terms of GDP. The US has a combined GDP of over $23 trillion while India recently overtook the UK to become the fifth biggest economy in the world after the US, China, Japan, and Germany. India has a GDP of over $3.5 trillion as of 2022.Crispus NyagaJuly 1st, 2024
Exchange rate margin and markup
An exchange rate margin or markup is an extra charge incorporated into the exchange rate given by some money transfer providers.
You’ll be able to notice the difference between the rate provided by your provider and the mid-market rate - the extra they’ve added on is essentially a profit margin.
Money transfer services usually make their profit in two ways;
Either by adding an exchange rate margin as described above.
Or charging a transfer fee.
Transfer fees are generally more transparent as you’ll see the fee upfront, while exchange rate markups or margins can sometimes hide the additional cost charged by the provider.
Of course, some providers charge both - and it can sometimes vary by payment method, amount you’re sending, the currencies involved, and more.
A bit more on currency conversions
Who decides the exchange rate?
What affects the exchange rate?
How can I follow exchange rates for different currencies?
How do changes in the economy affect exchange rates?
Why do exchange rate fluctuate?
What is the difference between a 'buy' and 'sell' rate in currency exchange?
How do I convert one currency to another?
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More currency exchange guides
In other words, the mid-market exchange rate is the middle point between the price for buying and selling currencies at any given time and is therefore naturally set by the market as it fluctuates.
April SummersAugust 16th, 2024
Forward contracts are made between two parties without the need for another organization (such as an exchange or clearing house) to act as an intermediary.
Jonathan MerryJuly 10th, 2024
Finding the best exchange rate for your international money transfer is easier by doing the following:
Mehdi PunjwaniAugust 16th, 2024
When dealing with foreign currencies, business owners often tap into currency forecasts to anticipate potential market fluctuations, but it is no easy task.April SummersAugust 16th, 2024
