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How Currency Exchange Rates Work
Factors That Affect Exchange Rates
Getting the Best Exchange Rate When Traveling
Understanding Foreign Transaction Fees
Frequently Asked Questions
No, this calculator uses approximate exchange rates for estimation purposes. Actual exchange rates fluctuate constantly during market hours. For current rates, check your bank, a financial data provider, or a dedicated currency exchange service.
Banks and credit unions typically offer better rates than airport kiosks or hotel exchanges. Credit cards with no foreign transaction fees often provide rates close to the interbank rate. Avoid exchanging cash at tourist locations where markups can be 10% or more.
The interbank rate, also called the mid-market rate, is the wholesale rate at which banks trade currencies with each other. It is the fairest rate available. Consumer exchange services add a markup of 1% to 5% on top of this rate.
Using a no-foreign-transaction-fee credit card abroad is usually cheapest. If you need cash, exchange a small amount before you leave and use ATMs at your destination for more. Avoid exchanging large amounts at airports or hotels where rates are worst.