Currency Converter
Convert between major world currencies instantly.
Frequently Asked Questions
Why do exchange rates change?
Exchange rates fluctuate based on supply and demand for currencies, influenced by interest rates, inflation, political stability, economic growth, and trade balances. These factors cause currencies to strengthen or weaken relative to each other constantly throughout trading hours.
What is the difference between USD and EUR?
USD (US Dollar) is the currency of the United States and the world's most traded currency. EUR (Euro) is used by 20 countries in the European Union's Eurozone. The EUR was introduced in 1999 and adopted as physical currency in 2002, making it relatively newer than the USD.
How are exchange rates determined?
Exchange rates in the modern world are primarily determined by floating exchange rates, where supply and demand in foreign exchange markets set the value. Central banks may intervene to stabilize their currency, and some countries peg their currency to another currency or commodity like gold.
Is this converter accurate for real transactions?
No. This converter uses approximate reference rates and is for informational and educational purposes only. Actual exchange rates vary by bank, time of day, and fees. Always verify current rates with your financial institution before making real transactions, as rates update frequently.
Why does Japan use 100+ yen per dollar?
The Japanese yen historically has a lower denomination than some other major currencies, so it requires more yen to equal one unit of another currency. This is simply how the currency was denominated historically and is perfectly normal. Each currency defines its own base unit value.