Trading Tools
Currency Converter
Convert between major currency pairs using approximate mid-market exchange rates. Understand how exchange rates work and how cross rates are derived through the US dollar.
Understanding Exchange Rates
Exchange rates represent the price of one currency in terms of another. In practice, you will encounter two prices: the bid (the price a dealer will buy) and the ask (the price a dealer will sell). The difference is the spread, which is the dealer's profit. The mid-market rate sits halfway between bid and ask and represents the “true” exchange rate before any markup. The rates shown here are approximate mid-market rates for educational purposes — real rates change every second during market hours.
Convert
Select currencies and enter an amount
€ · Eurozone
$ · United States
Result
Converted amount at approximate mid-market rate
1,000.00 EUR =
1,085.00USD
Exchange Rate
1.0850
1 EUR = 1.0850 USD
Inverse Rate
0.921659
1 USD = 0.921659 EUR
No cross-rate calculation needed — this is a direct USD pair.
How Cross Rates Work
Understanding currency conversion through the US dollar
Direct USD Pairs
If one currency is USD, the rate is quoted directly
EUR/USD = 1.0850 means 1 EUR buys 1.0850 USD
Cross Rate Formula
A/B = (A/USD) / (B/USD)
EUR/GBP = (EUR/USD) / (GBP/USD) = 1.0850 / 1.2650 = 0.8577
Why USD as the Vehicle?
The USD is the world's reserve currency and dominates forex volume
Over 88% of all forex trades involve USD on one side (BIS 2022 survey)
Major Currencies Reference
The eight most traded currencies and their approximate rates against the US dollar
| Currency | ISO Code | Symbol | Country | Rate vs USD |
|---|---|---|---|---|
| US Dollar | USD | $ | United States | — |
| Euro | EUR | € | Eurozone | 1 EUR = 1.0850 USD |
| British Pound | GBP | £ | United Kingdom | 1 GBP = 1.2650 USD |
| Japanese Yen | JPY | ¥ | Japan | 1 USD = 154.50 JPY |
| Swiss Franc | CHF | CHF | Switzerland | 1 USD = 0.885000 CHF |
| Canadian Dollar | CAD | C$ | Canada | 1 USD = 1.3650 CAD |
| Australian Dollar | AUD | A$ | Australia | 1 AUD = 0.655000 USD |
| New Zealand Dollar | NZD | NZ$ | New Zealand | 1 NZD = 0.615000 USD |
For educational purposes only. Not financial advice. Exchange rates shown are approximate mid-market rates and do not reflect live market conditions, bid/ask spreads, or broker markup. Real exchange rates fluctuate continuously during market hours. Always check current rates with your broker or financial institution before making any transactions.