Understanding Exchange Rates
Exchange rates are the value of one country's currency expressed in terms of another country's currency. They are crucial for international trade, tourism, and investment. The rates fluctuate constantly due to a variety of economic and political factors, including:
- Interest Rates: Higher interest rates can attract foreign capital, increasing demand for a country's currency.
- Inflation: Countries with lower inflation rates tend to see their currency appreciate.
- Economic Performance: Strong economic growth and stability generally lead to a stronger currency.
- Political Stability: Unstable political situations can deter investment and weaken a currency.
- Trade Balance: A country with a trade surplus (exports more than it imports) typically sees its currency strengthen.
This TD Exchange Rate Calculator helps you quickly convert amounts between common currencies. Simply enter the amount you wish to convert, select the 'from' currency, and the 'to' currency. The calculator will then provide an estimated converted value based on current market conditions. Please note that actual bank exchange rates may vary.
Example Usage:
Let's say you want to convert 1000 USD to EUR. You would enter '1000' in the 'Amount to Convert' field, select 'USD' for 'From Currency', and 'EUR' for 'To Currency'. If the current exchange rate is 1 USD = 0.92 EUR, the calculator would show you that 1000 USD is approximately 920 EUR.
function calculateExchangeRate() {
var amountToConvert = parseFloat(document.getElementById("amountToConvert").value);
var fromCurrency = document.getElementById("fromCurrency").value;
var toCurrency = document.getElementById("toCurrency").value;
var resultDiv = document.getElementById("result");
if (isNaN(amountToConvert) || amountToConvert <= 0) {
resultDiv.innerHTML = "Please enter a valid positive amount to convert.";
return;
}
// In a real-world scenario, you would fetch these rates from an API.
// For this example, we'll use fixed, representative rates.
var exchangeRates = {
"USD": {
"EUR": 0.92,
"GBP": 0.79,
"CAD": 1.36,
"AUD": 1.50,
"USD": 1.00
},
"EUR": {
"USD": 1.09,
"GBP": 0.86,
"CAD": 1.48,
"AUD": 1.63,
"EUR": 1.00
},
"GBP": {
"USD": 1.27,
"EUR": 1.16,
"CAD": 1.72,
"AUD": 1.90,
"GBP": 1.00
},
"CAD": {
"USD": 0.74,
"EUR": 0.68,
"GBP": 0.58,
"AUD": 1.11,
"CAD": 1.00
},
"AUD": {
"USD": 0.67,
"EUR": 0.61,
"GBP": 0.53,
"CAD": 0.90,
"AUD": 1.00
}
};
var rate = exchangeRates[fromCurrency] ? exchangeRates[fromCurrency][toCurrency] : null;
if (rate === null) {
resultDiv.innerHTML = "Could not retrieve exchange rate for the selected currencies.";
return;
}
var convertedAmount = amountToConvert * rate;
resultDiv.innerHTML = "" + amountToConvert + " " + fromCurrency + " is approximately
" + convertedAmount.toFixed(2) + " " + toCurrency + "";
}
.calculator-container {
font-family: Arial, sans-serif;
display: flex;
flex-wrap: wrap;
gap: 20px;
margin: 20px 0;
}
.calculator-form {
border: 1px solid #ddd;
padding: 20px;
border-radius: 8px;
background-color: #f9f9f9;
flex: 1;
min-width: 300px;
}
.calculator-form h2 {
margin-top: 0;
color: #333;
}
.form-group {
margin-bottom: 15px;
}
.form-group label {
display: block;
margin-bottom: 5px;
font-weight: bold;
color: #555;
}
.form-group input[type="number"],
.form-group select {
width: calc(100% – 20px);
padding: 10px;
border: 1px solid #ccc;
border-radius: 4px;
font-size: 1em;
}
.calculator-form button {
background-color: #007bff;
color: white;
padding: 10px 15px;
border: none;
border-radius: 4px;
cursor: pointer;
font-size: 1em;
transition: background-color 0.3s ease;
}
.calculator-form button:hover {
background-color: #0056b3;
}
#result {
margin-top: 20px;
padding: 10px;
border: 1px solid #e0e0e0;
background-color: #fff;
border-radius: 4px;
font-size: 1.1em;
}
.calculator-explanation {
border: 1px solid #ddd;
padding: 20px;
border-radius: 8px;
background-color: #f9f9f9;
flex: 2;
min-width: 300px;
}
.calculator-explanation h3,
.calculator-explanation h4 {
color: #333;
}
.calculator-explanation ul {
list-style: disc;
margin-left: 20px;
}
.calculator-explanation li {
margin-bottom: 10px;
}