Understanding FX Rates and Currency Conversion
Foreign exchange (FX) rates, also known as exchange rates, are the values of one currency for the purpose of trade of another.
When you travel, conduct international business, or invest in foreign markets, you'll encounter different currencies.
The FX rate tells you how much of one currency you can get for a certain amount of another.
For example, if the exchange rate between the US Dollar (USD) and the Euro (EUR) is 1 USD = 0.92 EUR, it means that one US Dollar can be exchanged for 0.92 Euros.
Conversely, to get one Euro, you would need approximately 1.09 USD (1 / 0.92).
This FX Rate Calculator simplifies the process of converting an amount from one currency to another.
You input the amount you wish to convert, select your source currency and the target currency, and then provide the current exchange rate.
The calculator will then show you the equivalent amount in the target currency.
How it works:
The calculation is straightforward:
Converted Amount = Amount to Convert × Exchange Rate
If the rate provided is '1 Source Unit = X Target Units', and you want to convert 'Y Source Units', the formula is `Y * X = Converted Amount`.
It's crucial to use an accurate and up-to-date exchange rate for precise conversions. Many financial websites and apps provide real-time FX rate data.
Example:
Let's say you have 1000 Canadian Dollars (CAD) and you want to convert them to Australian Dollars (AUD).
The current exchange rate is 1 CAD = 1.12 AUD.
Using the calculator:
Amount to Convert: 1000
Source Currency: CAD
Target Currency: AUD
Exchange Rate: 1.12
The calculation would be: 1000 CAD * 1.12 = 1120 AUD.
So, 1000 Canadian Dollars would be equivalent to 1120 Australian Dollars at this rate.
function calculateFXRate() {
var amount = parseFloat(document.getElementById("amount").value);
var exchangeRate = parseFloat(document.getElementById("exchangeRate").value);
var sourceCurrency = document.getElementById("sourceCurrency").value;
var targetCurrency = document.getElementById("targetCurrency").value;
var resultElement = document.getElementById("result");
resultElement.innerHTML = ""; // Clear previous results
if (isNaN(amount) || isNaN(exchangeRate)) {
resultElement.innerHTML = "Please enter valid numbers for amount and exchange rate.";
return;
}
if (amount < 0 || exchangeRate < 0) {
resultElement.innerHTML = "Amount and exchange rate cannot be negative.";
return;
}
var convertedAmount = amount * exchangeRate;
resultElement.innerHTML =
"
Conversion Result:" +
"" + amount + " " + sourceCurrency + " is equal to
" + convertedAmount.toFixed(2) + " " + targetCurrency + " at an exchange rate of 1 " + sourceCurrency + " = " + exchangeRate + " " + targetCurrency + ".";
}
.calculator-wrapper {
font-family: sans-serif;
max-width: 800px;
margin: 20px auto;
border: 1px solid #ccc;
border-radius: 8px;
overflow: hidden;
box-shadow: 0 2px 5px rgba(0,0,0,0.1);
display: flex;
flex-wrap: wrap;
}
.calculator-form {
padding: 25px;
width: 45%;
min-width: 300px;
box-sizing: border-box;
background-color: #f9f9f9;
}
.calculator-explanation {
padding: 25px;
width: 55%;
min-width: 300px;
box-sizing: border-box;
background-color: #ffffff;
border-left: 1px solid #eee;
}
.calculator-form h2, .calculator-explanation h3 {
margin-top: 0;
color: #333;
}
.calculator-form p, .calculator-explanation p {
color: #555;
line-height: 1.6;
}
.form-group {
margin-bottom: 15px;
}
.form-group label {
display: block;
margin-bottom: 5px;
font-weight: bold;
color: #444;
}
.form-group input[type="number"],
.form-group select {
width: calc(100% – 12px);
padding: 8px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 1em;
}
.form-group select {
cursor: pointer;
}
button {
background-color: #4CAF50;
color: white;
padding: 10px 15px;
border: none;
border-radius: 4px;
cursor: pointer;
font-size: 1em;
margin-top: 10px;
}
button:hover {
background-color: #45a049;
}
#result {
margin-top: 20px;
padding: 15px;
border: 1px solid #e0e0e0;
border-radius: 4px;
background-color: #fff;
}
#result p {
margin: 0 0 10px 0;
}
#result p:last-child {
margin-bottom: 0;
}
code {
background-color: #e9e9e9;
padding: 2px 5px;
border-radius: 3px;
font-family: Consolas, Monaco, 'Andale Mono', 'Ubuntu Mono', monospace;
}
@media (max-width: 768px) {
.calculator-wrapper {
flex-direction: column;
}
.calculator-form, .calculator-explanation {
width: 100%;
border-left: none;
border-bottom: 1px solid #eee;
}
.calculator-explanation {
border-bottom: none;
}
}