Exchange Rate Calculator
Conversion Results
Gross Amount (Pre-fees):
Total Fees Deducted (Source Currency):
Actual Amount Converted:
Real Effective Exchange Rate:
Net Amount Received (Target Currency):
Understanding Custom Exchange Rates
When transferring money internationally or planning a trip abroad, understanding the true cost of currency conversion is crucial. Most banks and exchange services do not trade at the "mid-market" rate (the rate you see on Google). Instead, they offer a custom retail rate that includes a markup, or they charge separate commissions.
This Exchange Rate Calculator with Custom Rate allows you to input the specific rate offered by your provider, along with any hidden fees, to determine exactly how much foreign currency you will receive.
How to Use This Calculator
- Amount to Convert: Enter the total amount of money you intend to exchange in your local currency (e.g., 1,000 USD).
- Custom Exchange Rate: Input the specific rate quoted by the money changer or bank. For example, if you are converting USD to EUR and the bank offers 0.92 EUR for every 1 USD, enter 0.92.
- Commission (%): Many providers charge a percentage fee (spread) on top of the rate. If your bank charges a 2.5% foreign transaction fee, enter 2.5 here.
- Fixed Fee: Some transfers incur a flat wire fee (e.g., $25 per transfer) regardless of the amount sent.
Calculating the Real Cost of Conversion
It is important to distinguish between the Nominal Rate (the quoted rate) and the Effective Rate (what you actually get after fees). Even if a service advertises "Zero Commission," they often adjust the exchange rate to be less favorable compared to the mid-market rate.
Example Calculation
Imagine you want to convert 5,000 units of your currency. The bank quotes a rate of 1.50 for the target currency.
- Gross Conversion: 5,000 × 1.50 = 7,500 target units.
- Fees: However, if there is a 2% fee, the bank deducts 100 units from your source amount first.
- Net Conversion: You are actually converting 4,900 units.
- Final Result: 4,900 × 1.50 = 7,350 target units.
By using this tool, you can compare different providers by entering their specific custom rates and fee structures to see who puts the most money in your pocket.