The Babypips Currency Converter shows the live mid-market rate for currencies, and can also estimate what a bank, card, ATM, or kiosk would really give you.
Convert a currency
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From
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What kind of rate?
What $100.00 has been worth in EUR
Fetching the history…
Fetching the history…
How currency conversion works
Every currency conversion comes down to one number: the exchange rate. It tells you how much of the second currency you get for one unit of the first.
To convert an amount, multiply it by the exchange rate.
If 1 U.S. dollar is worth 0.92 euros, then $100 converts to €92:
100 × 0.92 = 92
Reading a currency pair
Exchange rates are written as currency pairs, such as EUR/USD.
The rate tells you how much of the quote currency one unit of the base currency is worth.
For example, if EUR/USD is 1.08, then 1 euro is worth 1.08 U.S. dollars. If you flip the pair to USD/EUR, the rate is about 0.92, which means 1 U.S. dollar is worth about 0.92 euros.
At any given moment, there are TWO prices in the currency market.
The bid is what buyers are willing to pay, while the ask is what sellers are willing to accept.
The ask is higher than the bid, and the difference between them is called the spread.
The market midpoint sits exactly halfway between the bid and the ask. It's a useful reference rate because it doesn't favor either the buyer or the seller. It's commonly used when comparing currencies, and it's the rate this converter shows by default.
The important thing to remember is that you generally can't transact at the midpoint. A seller will quote the ask, while a buyer will quote the bid. The midpoint is a reference point, not an actual offer.
Think of the midpoint as a reference price, not the price you'll actually pay. It's useful for comparing one provider with another, but it's not the rate you should expect to get when you make the exchange.
Why your bank quotes a different rate
When a bank, card issuer, ATM, or airport kiosk converts your money, you usually won't get the market midpoint. Instead, the provider builds a markup into the exchange rate it gives you.
For example, if you're buying euros, you'll typically pay slightly more dollars per euro than the midpoint. If you're selling euros, you'll typically receive slightly fewer dollars per euro.
That markup may be the main cost of the transaction, and it's easy to miss because it's built into the rate instead of shown as a separate fee.
A conversion advertised as "no commission" or "zero fees" can still be expensive if the quoted rate is far from the midpoint.
The best way to see what you're really paying is to compare the provider's quoted rate with the market midpoint.
Some providers also charge a separate fee on top of a marked-up rate, so it's worth checking both.
Estimating ATM, card, and kiosk rates
The What kind of rate? setting under the converter lets you see what the exchange might look like after a typical provider markup. If you switch away from "Market", you'll see a converted amount and how much the markup is costing you.
There are two important things to keep in mind.
These are estimates, not quotes. The percentages are there to give you a rough idea of what different providers might charge. They don't come from any specific bank, card company, ATM, or kiosk. Your provider could charge more or less, so check its actual rates and terms before making a decision.
The estimates only include the exchange-rate markup. They don't include separate fees. An ATM might charge a withdrawal fee, your card might add a foreign transaction fee, and a kiosk might charge a service fee. Those costs would be extra.
Why exchange rates move
Currencies are traded continuously, and their prices reflect what people are willing to pay for them right now. That changes constantly, for reasons that are mostly about the economies behind the currencies.
Interest rates. Money tends to flow toward wherever it earns more. When one country's rates rise relative to another's, its currency often strengthens.
Central bank decisions. The institutions that set those rates move currencies not just when they act, but when they hint at acting. Each central bank has its own priorities and its own way of signaling them.
Inflation. A currency losing value at home tends to lose value abroad, and inflation data is watched closely because it shapes what central banks do next.
Economic health. Growth, employment, and trade figures all feed into how attractive a country's currency looks.
News and events. Elections, conflicts, and unexpected announcements can move a rate sharply in minutes.
Market mood. When investors turn cautious they tend to move into currencies seen as safe havens, regardless of what the economic data says that week.
For everyday conversions, none of this needs watching closely. Rates between major currencies usually drift by fractions of a percent from one day to the next. It matters more when you're converting a large amount, or when you're comparing a rate today against one from years ago.
Frequently asked questions
Is this the rate my bank will give me?
Almost certainly not. This is the market midpoint, which is a reference rate rather than a price you can buy at. Banks, cards, ATMs, and exchange kiosks each add their own markup, so the rate you're offered is usually a little worse. Use the "What kind of rate?" control to see roughly what that difference looks like.
Why does the converted amount change while I'm looking at it?
Currencies are traded continuously, so their prices move all day. The converter updates a few seconds at a time rather than on every single change in price, which keeps the number readable. When the amount changes, it's because the market moved.
How far back does the history go?
It depends on the pair. Major currencies such as the euro, the pound, and the yen go back to 1993, and gold and silver go back to January 1993. Currencies that started trading later, or that are quoted less often, have shorter histories, and a conversion between two currencies can only reach as far back as the shorter of the two.
Do historical rates account for inflation?
No. A past rate tells you how the two currencies traded against each other on that day. It says nothing about what either currency could buy at the time, so it isn't a measure of purchasing power and it isn't adjusted for inflation.
Why do crypto and precious metals behave differently?
Cryptocurrencies trade every day of the year, including weekends, while currencies and metals stop trading from Friday afternoon until Sunday afternoon New York time. Gold and silver are also priced per troy ounce rather than per unit, so converting into gold gives you a quantity of ounces.
Are my currency choices saved to an account?
No. Your currencies, amount, and rate type are stored in this browser only, and they're never attached to an account or sent to us. You can clear them at any time with "Reset saved currencies" under the converter, and clearing your browser data removes them too.
Which currencies can I convert between?
Most of the world's traded currencies, several hundred cryptocurrencies, and gold and silver. A few currencies are listed but can't be priced yet because no source quotes them, and the converter labels those "Not yet supported" rather than hiding them.
Keep learning
If you're new to currency trading, these lessons are a good place to go next:
What is Forex? explains what the currency market is and who trades in it.
What is Traded in Forex? covers how currencies are grouped and which ones tend to move together.
