Today's Live Exchange Rates

Based on our live comparison data, Wise offers the best exchange rate, since all transfers are made at the mid-market rate (the one you see above).

If you are making transfers to India, Aspora is another great option, which also uses the interbank exchange rate.

There isn’t a single “best” time to exchange currency, as exchange rates fluctuate constantly based on global market conditions.

However, you can often get better rates by:

• Monitoring the interbank rate (bookmark this page for this!)

• Comparing your currency transfer options

• Signing up to rate alerts

• Using the best money transfer company or an app

• Planning ahead, especially if you need to make a large transfer or a business transfer.

The interbank exchange rate is the rate that banks and large financial institutions use when trading currencies with each other on the global foreign exchange (FX) market.

It’s calculated based on real-time supply and demand between currencies. Essentially, what buyers are willing to pay and sellers are willing to accept.

Multiple factors affect it, including interest rate differences, economic data, market sentiment, geopolitical events, bank policies and much more.

Traditionally, you could find this rate on bank windows and on Google.

Now you can find it in the table above.

Our page is always up to date, and shows live exchange rates for major currencies (based on our comparison data).

Simply because this is how most money transfer companies make money.

Money transfer companies add markup or spread to the mid-market rate and collect the difference.

Some services will add a smaller markup but higher fees, others will add higher markup and lower fees, some, like Wise will only charge the fee and give you interbank rates as is (and some will charge you high fees, and high markup).

Usually, this is based on companies business model, overhead costs, and profit margins.