.rbc-exchange-rate-calculator {
font-family: sans-serif;
border: 1px solid #ccc;
padding: 20px;
border-radius: 8px;
max-width: 500px;
margin: 20px auto;
background-color: #f9f9f9;
}
.rbc-exchange-rate-calculator .input-group {
margin-bottom: 15px;
}
.rbc-exchange-rate-calculator label {
display: block;
margin-bottom: 5px;
font-weight: bold;
}
.rbc-exchange-rate-calculator input[type="number"],
.rbc-exchange-rate-calculator select {
width: 100%;
padding: 10px;
border: 1px solid #ccc;
border-radius: 4px;
box-sizing: border-box; /* Important for padding */
}
.rbc-exchange-rate-calculator button {
background-color: #4CAF50;
color: white;
padding: 10px 15px;
border: none;
border-radius: 4px;
cursor: pointer;
font-size: 16px;
width: 100%;
}
.rbc-exchange-rate-calculator button:hover {
background-color: #45a049;
}
.rbc-exchange-rate-calculator .calculator-result {
margin-top: 20px;
font-size: 1.1em;
font-weight: bold;
text-align: center;
padding: 10px;
background-color: #e0e0e0;
border-radius: 4px;
}
function getExchangeRate(fromCurrency, toCurrency) {
// In a real application, you would fetch these rates from an API.
// For this example, we'll use a simplified, fixed set of rates.
// These rates are illustrative and may not be accurate.
var rates = {
"USD": { "EUR": 0.92, "GBP": 0.79, "CAD": 1.37, "AUD": 1.51, "JPY": 150.00 },
"EUR": { "USD": 1.09, "GBP": 0.86, "CAD": 1.49, "AUD": 1.64, "JPY": 163.00 },
"GBP": { "USD": 1.27, "EUR": 1.16, "CAD": 1.73, "AUD": 1.91, "JPY": 190.00 },
"CAD": { "USD": 0.73, "EUR": 0.67, "GBP": 0.58, "AUD": 1.10, "JPY": 110.00 },
"AUD": { "USD": 0.66, "EUR": 0.61, "GBP": 0.52, "CAD": 0.91, "JPY": 99.00 },
"JPY": { "USD": 0.0067, "EUR": 0.0062, "GBP": 0.0053, "CAD": 0.0091, "AUD": 0.010 }
};
if (fromCurrency === toCurrency) {
return 1.0;
}
if (rates[fromCurrency] && rates[fromCurrency][toCurrency]) {
return rates[fromCurrency][toCurrency];
}
// Fallback if direct rate isn't found (e.g., inverse)
if (rates[toCurrency] && rates[toCurrency][fromCurrency]) {
return 1 / rates[toCurrency][fromCurrency];
}
return null; // Rate not available
}
function calculateExchangeRate() {
var amountToConvert = parseFloat(document.getElementById("amountToConvert").value);
var fromCurrency = document.getElementById("fromCurrency").value;
var toCurrency = document.getElementById("toCurrency").value;
var resultDiv = document.getElementById("result");
if (isNaN(amountToConvert) || amountToConvert <= 0) {
resultDiv.textContent = "Please enter a valid amount.";
return;
}
var rate = getExchangeRate(fromCurrency, toCurrency);
if (rate === null) {
resultDiv.textContent = "Exchange rate not available for the selected currencies.";
} else {
var convertedAmount = amountToConvert * rate;
resultDiv.textContent = amountToConvert + " " + fromCurrency + " is equal to " + convertedAmount.toFixed(2) + " " + toCurrency;
}
}
Understanding Foreign Exchange Rates
Foreign exchange rates, often called forex or FX rates, represent the value of one country's currency in relation to another. These rates are crucial for international trade, travel, investment, and remittances. They fluctuate constantly due to a multitude of factors, including economic indicators, geopolitical events, interest rates, and market speculation.
How Exchange Rates Work
An exchange rate is quoted as a pair of currencies, with a base currency and a quote currency. For example, in the pair EUR/USD, the Euro (EUR) is the base currency, and the US Dollar (USD) is the quote currency. The rate tells you how many units of the quote currency you need to buy one unit of the base currency. If the EUR/USD rate is 1.09, it means you need 1.09 US dollars to buy 1 Euro.
Factors Influencing Exchange Rates
- Interest Rates: Higher interest rates in a country tend to attract foreign capital, increasing demand for its currency and thus strengthening its exchange rate.
- Inflation Rates: Countries with lower inflation rates tend to see their currency appreciate relative to countries with higher inflation, as purchasing power is maintained.
- Economic Performance: Strong economic growth, low unemployment, and a stable political environment generally lead to a stronger currency.
- Current Account Balance: A country's trade balance (exports minus imports) impacts its currency. A surplus can strengthen the currency, while a deficit can weaken it.
- Government Debt: High levels of national debt can make a country less attractive to foreign investors, potentially weakening its currency.
- Market Sentiment and Speculation: In the short term, currency values can be heavily influenced by traders' expectations and speculative buying or selling.
Using an Exchange Rate Calculator
An exchange rate calculator, like the one above, simplifies the process of converting one currency to another. You input the amount you wish to convert, select the original currency (from currency), and the currency you want to convert it to (to currency). The calculator then uses current or indicative exchange rates to provide you with the converted amount. This is incredibly useful for travelers planning their budget, businesses calculating international transaction costs, or individuals sending money abroad.
Example Usage:
Suppose you have 1000 Canadian Dollars (CAD) and want to know how much that is in Japanese Yen (JPY).
- Enter 1000 in the "Amount to Convert" field.
- Select CAD from the "From Currency" dropdown.
- Select JPY from the "To Currency" dropdown.
Clicking "Convert" would show you the equivalent amount in JPY. Based on indicative rates, 1000 CAD might convert to approximately 110,000 JPY. This allows for quick estimations for travel or purchases.