USD – US Dollar
GBP – British Pound
CAD – Canadian Dollar
AUD – Australian Dollar
PLN – Polish Zloty
JPY – Japanese Yen
Enter the amount you wish to convert.
Indicative rate. You can edit this manually.
Base Amount:–
Applied Exchange Rate:–
Estimated Total:
–
* Note: This calculation assumes a standard bank transfer spread. Actual AIB counter rates or online rates may vary slightly at the time of transaction.
Understanding the AIB Exchange Rate Calculator
When dealing with international transfers, travel money, or business payments through Allied Irish Banks (AIB), understanding the exchange rate mechanism is crucial for financial planning. Currency markets fluctuate constantly, and the rate you see on the news is rarely the rate you get at the bank counter.
This calculator is designed to help you estimate the costs involved in converting Euros to foreign currencies (like US Dollars or Sterling) and vice versa. It accounts for the distinction between "buying" and "selling" currency, which uses different rate tables.
How "Buy" and "Sell" Rates Work
Banks typically quote two different prices for every currency pair. This can be confusing, but the logic is always from the bank's perspective:
Bank Sells (You Buy): If you are an AIB customer with Euros in your account and you want to send money to the USA, the bank is "selling" you Dollars. You will receive the foreign currency. The rate used here is generally lower than the mid-market rate (meaning you get fewer dollars for your Euro).
Bank Buys (You Sell): If you have received a cheque in Sterling or Dollars and want to deposit it into your Euro account, the bank is "buying" that foreign currency from you. The rate here is generally higher (meaning you need more foreign units to get one Euro).
Factors Affecting Your Exchange Rate
Several variables influence the final figure you will see on your bank statement:
Mid-Market Rate: The wholesale rate at which banks trade currencies with each other. This is the baseline for all calculations.
The Spread: This is the margin AIB (or any financial institution) adds to the mid-market rate to cover costs and generate profit. This is why the buy and sell rates differ.
Transaction Type: Electronic transfers often command better rates than cash exchanges (notes and coins) because handling physical cash involves higher logistical costs for the bank.
Using This Calculator Effectively
To get the most accurate estimate from the tool above, follow these steps:
Select Direction: Choose "Buy Foreign Currency" if you are starting with Euros. Choose "Sell Foreign Currency" if you are starting with a foreign currency (e.g., USD) and want Euros.
Check the Rate: The calculator provides an indicative rate based on typical market averages. However, for precise planning, check the current AIB Treasury rates online and input that specific figure into the "Exchange Rate" field manually.
Review the Total: The final output will show you exactly how much foreign currency you will receive, or how many Euros will be credited to your account.
Common Currency Pairs
AIB handles a wide variety of global currencies, but the most frequently traded pairs involving the Euro include:
EUR/GBP (Sterling): Vital for trade and travel between Ireland and the UK.
EUR/USD (US Dollar): The most traded currency pair globally, essential for US travel and international business.
EUR/CAD & EUR/AUD: Popular for those with family or business connections in Canada and Australia.
Always remember that exchange rates are volatile. For large transactions, even a small shift in the rate can result in a significant difference in the final amount. It is often advisable to monitor rates over a few days if your transaction is not urgent.
// Data object for indicative rates (approximate mid-market for demo purposes)
// Format: Base EUR.
// 'buy' = bank sells foreign (user gets foreign). Rate is usually slightly lower than mid.
// 'sell' = bank buys foreign (user gives foreign). Rate is usually slightly higher.
var currencyData = {
'USD': { symbol: '$', buyRate: 1.05, sellRate: 1.12 },
'GBP': { symbol: '£', buyRate: 0.83, sellRate: 0.88 },
'CAD': { symbol: 'C$', buyRate: 1.45, sellRate: 1.55 },
'AUD': { symbol: 'A$', buyRate: 1.60, sellRate: 1.70 },
'PLN': { symbol: 'zł', buyRate: 4.25, sellRate: 4.45 },
'JPY': { symbol: '¥', buyRate: 155.00, sellRate: 165.00 }
};
function updateLabelsAndRate() {
var direction = document.getElementById('conversionDirection').value;
var currency = document.getElementById('currencySelect').value;
var amountLabel = document.getElementById('amountLabel');
var rateInput = document.getElementById('exchangeRate');
var data = currencyData[currency];
// Update Amount Label based on direction
if (direction === 'buy_foreign') {
// User has EUR, wants Foreign
amountLabel.innerText = "Amount in EUR (€):";
rateInput.value = data.buyRate; // Bank selling foreign
} else {
// User has Foreign, wants EUR
amountLabel.innerText = "Amount in " + currency + " (" + data.symbol + "):";
rateInput.value = data.sellRate; // Bank buying foreign
}
}
function calculateExchange() {
// Get inputs
var direction = document.getElementById('conversionDirection').value;
var currency = document.getElementById('currencySelect').value;
var inputVal = document.getElementById('inputAmount').value;
var rateVal = document.getElementById('exchangeRate').value;
// Validate inputs
if (inputVal === "" || isNaN(inputVal) || inputVal <= 0) {
alert("Please enter a valid positive amount.");
return;
}
if (rateVal === "" || isNaN(rateVal) || rateVal <= 0) {
alert("Please ensure the exchange rate is valid.");
return;
}
var amount = parseFloat(inputVal);
var rate = parseFloat(rateVal);
var result = 0;
var data = currencyData[currency];
var symbol = data.symbol;
var baseDisplay = "";
var finalDisplay = "";
// Calculation Logic
// AIB usually quotes "1 EUR = X Foreign".
if (direction === 'buy_foreign') {
// Scenario: Converting EUR to Foreign
// Formula: EUR * Rate = Foreign
result = amount * rate;
baseDisplay = "€" + amount.toLocaleString('en-IE', {minimumFractionDigits: 2, maximumFractionDigits: 2});
finalDisplay = symbol + result.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
} else {
// Scenario: Converting Foreign to EUR
// Formula: Foreign / Rate = EUR
result = amount / rate;
baseDisplay = symbol + amount.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2});
finalDisplay = "€" + result.toLocaleString('en-IE', {minimumFractionDigits: 2, maximumFractionDigits: 2});
}
// Display Results
document.getElementById('displayBaseAmount').innerText = baseDisplay;
document.getElementById('displayRate').innerText = "1 EUR = " + rate + " " + currency;
document.getElementById('finalResult').innerText = finalDisplay;
// Show result box
document.getElementById('resultsBox').style.display = "block";
}
// Initialize on load
window.onload = function() {
updateLabelsAndRate();
};