// Mock exchange rates for demonstration purposes.
// In a real application, you would fetch these from an API.
var exchangeRates = {
"USD": {
"EUR": 0.93, "GBP": 0.79, "JPY": 157.38, "CAD": 1.37, "AUD": 1.50, "CNY": 7.24, "INR": 83.55, "BRL": 5.41, "ZAR": 18.80
},
"EUR": {
"USD": 1.08, "GBP": 0.85, "JPY": 169.14, "CAD": 1.47, "AUD": 1.61, "CNY": 7.78, "INR": 89.79, "BRL": 5.81, "ZAR": 20.18
},
"GBP": {
"USD": 1.27, "EUR": 1.18, "JPY": 198.98, "CAD": 1.73, "AUD": 1.89, "CNY": 9.15, "INR": 105.63, "BRL": 6.84, "ZAR": 23.73
},
"JPY": {
"USD": 0.0064, "EUR": 0.0059, "GBP": 0.0050, "CAD": 0.0087, "AUD": 0.0095, "CNY": 0.046, "INR": 0.53, "BRL": 0.34, "ZAR": 1.19
},
"CAD": {
"USD": 0.73, "EUR": 0.68, "GBP": 0.58, "JPY": 115.09, "AUD": 1.10, "CNY": 5.29, "INR": 61.13, "BRL": 3.96, "ZAR": 13.75
},
"AUD": {
"USD": 0.67, "EUR": 0.62, "GBP": 0.53, "JPY": 104.42, "CAD": 0.91, "CNY": 4.80, "INR": 55.50, "BRL": 3.60, "ZAR": 12.49
},
"CNY": {
"USD": 0.14, "EUR": 0.13, "GBP": 0.11, "JPY": 21.78, "CAD": 0.19, "AUD": 0.21, "INR": 11.56, "BRL": 0.75, "ZAR": 2.60
},
"INR": {
"USD": 0.012, "EUR": 0.011, "GBP": 0.0095, "JPY": 19.08, "CAD": 0.16, "AUD": 0.18, "CNY": 0.086, "BRL": 0.065, "ZAR": 0.23
},
"BRL": {
"USD": 0.18, "EUR": 0.17, "GBP": 0.15, "JPY": 33.70, "CAD": 0.25, "AUD": 0.28, "CNY": 0.13, "INR": 1.53, "ZAR": 3.51
},
"ZAR": {
"USD": 0.053, "EUR": 0.049, "GBP": 0.042, "JPY": 84.76, "CAD": 0.73, "AUD": 0.80, "CNY": 0.38, "INR": 0.43, "BRL": 0.28
}
};
function calculateExchangeRate() {
var amountToConvert = parseFloat(document.getElementById("amountToConvert").value);
var baseCurrency = document.getElementById("baseCurrency").value;
var targetCurrency = document.getElementById("targetCurrency").value;
var resultDisplay = document.getElementById("exchangeResult");
resultDisplay.innerHTML = ""; // Clear previous results
if (isNaN(amountToConvert) || amountToConvert <= 0) {
resultDisplay.innerHTML = "Please enter a valid positive amount to convert.";
return;
}
if (baseCurrency === targetCurrency) {
resultDisplay.innerHTML = "Converting to the same currency. No change needed. Result: " + amountToConvert.toFixed(2) + " " + targetCurrency;
return;
}
var ratesForBase = exchangeRates[baseCurrency];
if (!ratesForBase) {
resultDisplay.innerHTML = "Exchange rates for the selected base currency are not available.";
return;
}
var exchangeRate = ratesForBase[targetCurrency];
if (exchangeRate === undefined) {
resultDisplay.innerHTML = "Exchange rate from " + baseCurrency + " to " + targetCurrency + " is not available.";
return;
}
var convertedAmount = amountToConvert * exchangeRate;
resultDisplay.innerHTML = amountToConvert.toFixed(2) + " " + baseCurrency + " is equal to " + convertedAmount.toFixed(2) + " " + targetCurrency;
}
.exchange-rate-calculator {
font-family: sans-serif;
max-width: 500px;
margin: 20px auto;
padding: 20px;
border: 1px solid #ccc;
border-radius: 8px;
background-color: #f9f9f9;
}
.calculator-inputs .input-group {
margin-bottom: 15px;
}
.calculator-inputs label {
display: block;
margin-bottom: 5px;
font-weight: bold;
color: #333;
}
.calculator-inputs input[type="number"],
.calculator-inputs select {
width: calc(100% – 12px); /* Adjusted for padding */
padding: 8px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 1em;
}
.calculator-inputs button {
display: block;
width: 100%;
padding: 10px 15px;
background-color: #007bff;
color: white;
border: none;
border-radius: 4px;
font-size: 1.1em;
cursor: pointer;
transition: background-color 0.3s ease;
}
.calculator-inputs button:hover {
background-color: #0056b3;
}
.calculator-result {
margin-top: 20px;
padding: 15px;
border: 1px dashed #007bff;
border-radius: 4px;
background-color: #e7f3ff;
font-size: 1.1em;
text-align: center;
color: #0056b3;
}
Understanding Exchange Rates
Exchange rates are the value of one country's currency for the purpose of trading it for another. They are fundamental to international trade, travel, and finance. When you exchange money, you are essentially buying one currency and selling another. The "rate of exchange" dictates how much of the second currency you receive for a given amount of the first.
These rates are not static; they fluctuate constantly based on a multitude of economic and political factors. The primary drivers include:
- Supply and Demand: Just like any other commodity, currency values rise and fall based on how much is being bought versus sold.
- Interest Rates: Higher interest rates in a country can attract foreign capital, increasing demand for its currency.
- Inflation Rates: High inflation erodes the purchasing power of a currency, often leading to its devaluation.
- Economic and Political Stability: Countries with stable economies and political climates tend to have stronger, more stable currencies.
- Trade Balances: A country that exports more than it imports generally sees higher demand for its currency.
- Speculation: Traders buy and sell currencies based on their expectations of future rate movements.
How Exchange Rates Are Used
For individuals, exchange rates are crucial when traveling abroad or making purchases from international online retailers. For businesses, they are central to importing and exporting goods, investing overseas, and managing international payroll.
For example, if a US-based company needs to purchase raw materials from Germany, it will need to convert US Dollars (USD) into Euros (EUR). If the exchange rate is 1 EUR = 1.08 USD, then to buy goods worth 10,000 EUR, the company would need to spend 10,800 USD. Conversely, if a German company is selling software to a US customer for $5,000 USD, and the exchange rate is 1 USD = 0.93 EUR, they would receive 4,650 EUR.
The calculator provided above allows you to quickly convert amounts between various major currencies using current (or mock, for demonstration) exchange rates. Simply enter the amount you wish to convert, select the currency you are converting from, and the currency you wish to convert to, then click "Convert." This tool is invaluable for planning international trips, making cross-border purchases, or understanding international financial transactions.