Foreign Exchange Rate Converter
Calculate your final transfer amount including rates and fees
How to Use the Foreign Exchange Calculator
Whether you are planning a trip abroad, sending money to family internationally, or paying an overseas invoice, understanding the true cost of conversion is vital. This calculator helps you determine exactly how much foreign currency you will receive after fees and exchange rates are applied.
Step-by-Step Guide:
- Amount to Convert: Enter the total amount of money you wish to exchange.
- Currency Codes: Enter the 3-letter ISO codes (e.g., USD, EUR, GBP, JPY). This is for display purposes to make your results clear.
- Exchange Rate: Input the rate quoted by your bank or exchange provider. This represents how much of the target currency you get for 1 unit of your source currency.
- Commission/Fee: Many providers charge a flat fee or a fixed commission upfront. Enter this value in your source currency to see how it affects your final payout.
Understanding Exchange Rates and Spreads
The "Mid-Market Rate" is the real exchange rate you see on Google or news sites. However, banks and currency exchange booths rarely offer this rate. Instead, they add a "spread" or margin.
For example, if the real exchange rate for USD to EUR is 0.92, a bank might offer you 0.89. While they may claim "0% Commission," the fee is hidden in that lower rate. To use this calculator accurately, input the specific rate the provider is offering you to see the real outcome.
Example Calculation
Imagine you want to convert 1,000 USD to EUR.
- The bank quotes a rate of 0.90.
- They charge a 20 USD wire transfer fee.
First, the fee is deducted: 1,000 – 20 = 980 USD (Net Amount).
Then, the conversion happens: 980 * 0.90 = 882 EUR.
This calculator performs this specific logic to ensure you know exactly what lands in the destination account.
Why Fees Matter
Small fees can add up significantly. If you are transferring large sums, a slightly better exchange rate often outweighs a fixed transfer fee. Conversely, for small amounts, fixed fees can consume a large percentage of your money. Always compare the "Effective Exchange Rate" (Total Received / Total Sent) between different providers.