Calculate the real cost of converting USD including bank spreads and fees.
Enter amount in US Dollars
Euro (EUR)
British Pound (GBP)
Canadian Dollar (CAD)
Japanese Yen (JPY)
Australian Dollar (AUD)
Mexican Peso (MXN)
Indian Rupee (INR)
Chinese Yuan (CNY)
1 USD = ? Target Currency
Avg bank markup is 2% – 4%
Wire or service fees (USD)
Mid-Market Value:–
Exchange Rate Markup Cost:–
Fixed Fees:–
Actual Rate You Get:–
Total Amount Received–
// Default approximate rates for UX convenience (Note: These are static estimations for the user to adjust)
var defaultRates = {
'EUR': 0.92,
'GBP': 0.78,
'CAD': 1.36,
'JPY': 151.50,
'AUD': 1.52,
'MXN': 16.80,
'INR': 83.40,
'CNY': 7.23
};
// Initialize the rate input on load
window.onload = function() {
updatePlaceholderRate();
};
function validateInput(input) {
if (input.value < 0) input.value = 0;
}
function updatePlaceholderRate() {
var currency = document.getElementById('targetCurrency').value;
var rateInput = document.getElementById('marketRate');
// If the input is empty or matches a default value, update it. If user customized it, leave it.
if(defaultRates[currency]) {
rateInput.value = defaultRates[currency];
}
}
function calculateConversion() {
// 1. Get Input Values
var amountUSD = parseFloat(document.getElementById('sourceAmount').value);
var rate = parseFloat(document.getElementById('marketRate').value);
var spreadPercent = parseFloat(document.getElementById('bankSpread').value);
var fixedFeeUSD = parseFloat(document.getElementById('transferFee').value);
var currency = document.getElementById('targetCurrency').value;
// 2. Validation
if (isNaN(amountUSD) || amountUSD <= 0) {
alert("Please enter a valid amount in USD.");
return;
}
if (isNaN(rate) || rate <= 0) {
alert("Please enter a valid market exchange rate.");
return;
}
if (isNaN(spreadPercent)) spreadPercent = 0;
if (isNaN(fixedFeeUSD)) fixedFeeUSD = 0;
// 3. Logic
// Step A: Deduct fixed fees from the source USD first (typical wire behavior)
var amountAfterFees = amountUSD – fixedFeeUSD;
// Step B: Calculate the customer rate (Market Rate minus the spread percentage)
// Note: If converting USD to Foreign, a spread reduces the amount of foreign currency received.
// Example: Rate 1.0, Spread 2%. Customer gets 0.98.
var spreadDecimal = spreadPercent / 100;
var customerRate = rate * (1 – spreadDecimal);
// Step C: Calculate totals
var midMarketTotal = amountUSD * rate; // Value if no fees existed
var finalTotal = amountAfterFees * customerRate;
// Step D: Calculate "Cost" in target currency terms to display context
// Total Cost = (Ideal Value) – (Actual Value)
var totalLostValue = midMarketTotal – finalTotal;
// 4. Update UI
document.getElementById('resultsArea').style.display = 'block';
// Formatting helper
var formatter = new Intl.NumberFormat('en-US', {
minimumFractionDigits: 2,
maximumFractionDigits: 2
});
document.getElementById('midMarketVal').innerText = formatter.format(midMarketTotal) + " " + currency;
// We display the cost of the markup roughly in USD terms for clarity
// Markup Cost = (Amount * Rate) – (Amount * CustomerRate) converted back roughly or just displayed in Target
// Let's display losses in Target Currency for accuracy
document.getElementById('markupCost').innerText = formatter.format(amountUSD * rate – (amountUSD * customerRate)) + " " + currency + " (equiv)";
document.getElementById('fixedFeesDisplay').innerText = "$" + formatter.format(fixedFeeUSD);
document.getElementById('customerRate').innerText = "1 USD = " + customerRate.toFixed(4) + " " + currency;
document.getElementById('finalAmount').innerText = formatter.format(finalTotal);
document.getElementById('currencyLabel').innerText = currency;
}
Understanding Today's US Exchange Rate Calculations
When converting US Dollars (USD) to foreign currencies, the number you see on news sites or Google is often the "mid-market rate." This is the midpoint between the buy and sell prices of two currencies in global markets. However, the rate consumers actually get at the bank is rarely this number.
This Today's US Exchange Rate Calculator is designed to help you uncover the true cost of your international transfers by factoring in the two main ways institutions charge you: the exchange rate margin (spread) and fixed transfer fees.
What determines the Exchange Rate?
The US Dollar exchange rate fluctuates constantly based on several macroeconomic factors:
Federal Reserve Interest Rates: Higher interest rates generally attract foreign capital, strengthening the USD.
Inflation Rates: Lower inflation typically supports a stronger currency value.
Geopolitical Stability: The USD is often seen as a "safe haven," meaning its value may rise during global uncertainty.
Pro Tip: Most major banks charge a "spread" of 2.5% to 5% above the mid-market rate. On a $10,000 transfer, a 3% spread silently costs you $300, even if the bank advertises "$0 Transfer Fee".
How to Use This Calculator
Enter Amount (USD): Input the total amount of US Dollars you intend to convert or send.
Select Target Currency: Choose the currency you want to buy (e.g., EUR, GBP, CAD).
Verify Market Rate: The calculator provides an estimated rate, but for precision, input the exact rate you see on a financial news ticker (like Bloomberg or Reuters) for "Today".
Input Bank Spread: Enter the percentage markup your provider charges. If you are unsure, 2.5% is a standard estimate for traditional banks, while specialized online brokers may charge 0.5% to 1%.
Fixed Fee: Add any wire transfer fees charged by your bank (usually $15-$45 for international wires).
The Formula: How Real Exchange Costs are Calculated
To understand what you are actually receiving, you must calculate the Customer Rate:
Customer Rate = Mid-Market Rate × (1 – Spread %)
For example, if the USD/EUR mid-market rate is 0.92 and your bank charges a 3% spread:
0.92 × (1 – 0.03) = 0.8924 (This is your actual rate).
If you convert $1,000, you receive €892.40 instead of €920.00.
The cost of the spread is €27.60.
Strategies to Get Better Rates
To maximize the foreign currency you receive for your US Dollars, consider using specialized foreign exchange brokers or multi-currency accounts rather than traditional retail banks. These services often offer rates much closer to the mid-market rate shown in this calculator, sometimes with spreads as low as 0.4%.