USD – United States Dollar
EUR – Euro
GBP – British Pound
JPY – Japanese Yen
CAD – Canadian Dollar
AUD – Australian Dollar
CHF – Swiss Franc
CNY – Chinese Yuan
SEK – Swedish Krona
NZD – New Zealand Dollar
USD – United States Dollar
EUR – Euro
GBP – British Pound
JPY – Japanese Yen
CAD – Canadian Dollar
AUD – Australian Dollar
CHF – Swiss Franc
CNY – Chinese Yuan
SEK – Swedish Krona
NZD – New Zealand Dollar
Understanding Currency Exchange Rates
A currency exchange rate is the value of one country's currency for the purpose of trade of another currency. For instance, if an exchange rate is quoted as EUR/USD 1.10, it means 1 Euro is equivalent to 1.10 US Dollars. These rates fluctuate constantly due to a variety of economic, political, and market factors.
Factors Influencing Exchange Rates:
Interest Rates: Higher interest rates can attract foreign capital, increasing demand for the currency and thus its value.
Inflation: Countries with lower inflation rates tend to see their currency appreciate relative to countries with higher inflation.
Economic Performance: Strong economic growth, low unemployment, and stable political conditions generally lead to a stronger currency.
Trade Balances: A country with a trade surplus (exports more than it imports) often sees its currency strengthen.
Speculation: Traders and investors may buy or sell currencies based on expectations of future movements, which can influence short-term rates.
How Exchange Rates Work:
When you convert one currency to another, you are essentially trading one form of money for another based on the prevailing market rate. This is crucial for international trade, tourism, and global investment. For example, if you are traveling from the United States to Japan and have 100 USD, you'll need to exchange this for Japanese Yen (JPY). If the USD/JPY exchange rate is 135.00, then your 100 USD would be worth 13,500 JPY. Conversely, if you had 13,500 JPY and wanted to convert it back to USD, you would divide by the exchange rate (13,500 JPY / 135.00 JPY/USD = 100 USD).
This calculator simplifies the process by allowing you to input an amount in one currency and see its equivalent in another, using approximate real-time exchange rates (for illustrative purposes).
function calculateExchangeRate() {
var amountToConvert = parseFloat(document.getElementById("amountToConvert").value);
var baseCurrency = document.getElementById("baseCurrency").value;
var targetCurrency = document.getElementById("targetCurrency").value;
var resultElement = document.getElementById("result");
if (isNaN(amountToConvert) || amountToConvert <= 0) {
resultElement.innerHTML = "Please enter a valid positive amount.";
return;
}
// **IMPORTANT NOTE:** In a real-world application, you would fetch live exchange rates from an API.
// For this example, we are using hardcoded, illustrative rates.
// These rates are NOT live and are for demonstration purposes only.
var exchangeRates = {
"USD": {
"EUR": 0.93, "GBP": 0.80, "JPY": 151.70, "CAD": 1.37, "AUD": 1.51, "CHF": 0.90, "CNY": 7.23, "SEK": 10.50, "NZD": 1.65
},
"EUR": {
"USD": 1.08, "GBP": 0.86, "JPY": 163.10, "CAD": 1.47, "AUD": 1.62, "CHF": 0.97, "CNY": 7.78, "SEK": 11.29, "NZD": 1.77
},
"GBP": {
"USD": 1.26, "EUR": 1.16, "JPY": 189.60, "CAD": 1.71, "AUD": 1.88, "CHF": 1.13, "CNY": 9.05, "SEK": 13.13, "NZD": 2.06
},
"JPY": {
"USD": 0.0066, "EUR": 0.0061, "GBP": 0.0053, "CAD": 0.0090, "AUD": 0.0099, "CHF": 0.0060, "CNY": 0.048, "SEK": 0.069, "NZD": 0.11
},
"CAD": {
"USD": 0.73, "EUR": 0.68, "GBP": 0.58, "JPY": 110.70, "AUD": 1.10, "CHF": 0.66, "CNY": 5.28, "SEK": 7.66, "NZD": 1.20
},
"AUD": {
"USD": 0.66, "EUR": 0.62, "GBP": 0.53, "JPY": 100.60, "CAD": 0.91, "CHF": 0.60, "CNY": 4.78, "SEK": 6.94, "NZD": 1.09
},
"CHF": {
"USD": 1.11, "EUR": 1.03, "GBP": 0.88, "JPY": 168.50, "CAD": 1.52, "AUD": 1.07, "CNY": 8.00, "SEK": 11.66, "NZD": 1.83
},
"CNY": {
"USD": 0.14, "EUR": 0.13, "GBP": 0.11, "JPY": 20.94, "CAD": 0.19, "AUD": 0.21, "CHF": 0.13, "SEK": 1.46, "NZD": 0.23
},
"SEK": {
"USD": 0.095, "EUR": 0.089, "GBP": 0.076, "JPY": 14.44, "CAD": 0.13, "AUD": 0.14, "CHF": 0.086, "CNY": 0.69, "NZD": 0.16
},
"NZD": {
"USD": 0.61, "EUR": 0.57, "GBP": 0.49, "JPY": 115.20, "CAD": 0.83, "AUD": 0.92, "CHF": 0.55, "CNY": 4.37, "SEK": 6.25
}
};
var rate = 1; // Default to 1 if base and target are the same
if (baseCurrency === targetCurrency) {
rate = 1;
} else if (exchangeRates[baseCurrency] && exchangeRates[baseCurrency][targetCurrency]) {
rate = exchangeRates[baseCurrency][targetCurrency];
} else if (exchangeRates[targetCurrency] && exchangeRates[targetCurrency][baseCurrency]) {
rate = 1 / exchangeRates[targetCurrency][baseCurrency];
} else {
resultElement.innerHTML = "Exchange rate data not available for this pair.";
return;
}
var convertedAmount = amountToConvert * rate;
resultElement.innerHTML = amountToConvert + " " + baseCurrency + " is equivalent to " + convertedAmount.toFixed(2) + " " + targetCurrency;
}