Understanding Currency Exchange Rates
Currency exchange rates are the value of one nation's currency versus that of another nation's currency.
These rates are constantly fluctuating in the foreign exchange market (Forex), influenced by a multitude of
economic, political, and market factors. Understanding these rates is crucial for international travelers,
businesses involved in import/export, and investors.
When you exchange one currency for another, you are essentially buying or selling a currency pair.
The rate tells you how much of the quote currency you will get for one unit of the base currency.
For example, if the EUR/USD exchange rate is 1.10, it means that 1 Euro can be exchanged for 1.10 US Dollars.
Our Royal Bank Exchange Rate Calculator simplifies this process. You can select your base currency,
the currency you wish to convert to, the amount you want to exchange, and the current exchange rate.
The calculator will then show you the equivalent amount in your target currency. Always use current,
real-time exchange rates for the most accurate conversions, as rates can change by the minute.
Example Calculation:
Let's say you are in Canada and want to convert 1000 CAD to US Dollars.
The current exchange rate is 1 CAD = 0.73 USD.
Using the calculator:
- Base Currency: CAD
- Target Currency: USD
- Amount to Convert: 1000
- Exchange Rate (1 CAD = X USD): 0.73
The result will be 730 USD (1000 CAD * 0.73 USD/CAD).
var baseCurrencySelect = document.getElementById("baseCurrency");
var targetCurrencySelect = document.getElementById("targetCurrency");
var amountInput = document.getElementById("amount");
var exchangeRateInput = document.getElementById("exchangeRate");
var resultDiv = document.getElementById("result");
var currencyOptions = {
"CAD": ["USD", "EUR", "GBP", "JPY", "AUD"],
"USD": ["CAD", "EUR", "GBP", "JPY", "AUD"],
"EUR": ["CAD", "USD", "GBP", "JPY", "AUD"],
"GBP": ["CAD", "USD", "EUR", "JPY", "AUD"],
"JPY": ["CAD", "USD", "EUR", "GBP", "AUD"],
"AUD": ["CAD", "USD", "EUR", "GBP", "JPY"]
};
function updateCurrencyOptions() {
var baseCurrency = baseCurrencySelect.value;
targetCurrencySelect.innerHTML = "; // Clear existing options
if (currencyOptions[baseCurrency]) {
currencyOptions[baseCurrency].forEach(function(currency) {
var option = document.createElement("option");
option.value = currency;
option.text = currency;
targetCurrencySelect.appendChild(option);
});
}
}
function calculateExchange() {
var baseCurrency = baseCurrencySelect.value;
var targetCurrency = targetCurrencySelect.value;
var amount = parseFloat(amountInput.value);
var exchangeRate = parseFloat(exchangeRateInput.value);
if (isNaN(amount) || isNaN(exchangeRate) || amount <= 0 || exchangeRate <= 0) {
resultDiv.innerHTML = "Please enter valid positive numbers for amount and exchange rate.";
return;
}
var convertedAmount = amount * exchangeRate;
resultDiv.innerHTML =
amount + " " + baseCurrency + " is equal to " +
convertedAmount.toFixed(2) + " " + targetCurrency;
}
// Initialize currency options on page load
updateCurrencyOptions();
.calculator-wrapper {
font-family: sans-serif;
display: flex;
flex-wrap: wrap;
gap: 20px;
margin: 20px 0;
}
.calculator-form {
border: 1px solid #ddd;
padding: 20px;
border-radius: 8px;
background-color: #f9f9f9;
flex: 1;
min-width: 300px;
}
.calculator-title {
margin-top: 0;
color: #333;
margin-bottom: 20px;
}
.form-group {
margin-bottom: 15px;
}
.form-group label {
display: block;
margin-bottom: 5px;
font-weight: bold;
color: #555;
}
.form-group input[type="number"],
.form-group select {
width: calc(100% – 12px);
padding: 8px;
border: 1px solid #ccc;
border-radius: 4px;
box-sizing: border-box;
}
.calculator-button {
background-color: #4CAF50;
color: white;
padding: 10px 15px;
border: none;
border-radius: 4px;
cursor: pointer;
font-size: 16px;
transition: background-color 0.3s ease;
}
.calculator-button:hover {
background-color: #45a049;
}
.calculator-result {
margin-top: 20px;
padding: 10px;
border: 1px solid #eee;
background-color: #fff;
border-radius: 4px;
font-weight: bold;
color: #333;
}
.calculator-explanation {
flex: 1;
min-width: 300px;
background-color: #eef;
padding: 20px;
border-radius: 8px;
color: #333;
}
.calculator-explanation h3, .calculator-explanation h4 {
color: #003366;
margin-top: 0;
}
.calculator-explanation p, .calculator-explanation ul {
line-height: 1.6;
}
.calculator-explanation ul {
padding-left: 20px;
}