What This Calculator Does

This currency converter lets you convert an amount from one world currency to another using exchange rates published by the European Central Bank (ECB). You can look up current rates or select a historical date. Rates are updated daily on ECB business days via the Frankfurter API.

Inputs Explained

Amount: The monetary value you want to convert. Can be any positive number, including decimals.
From: The source currency code (e.g., USD for US Dollar, EUR for Euro, GBP for British Pound).
To: The target currency code.
Date (Optional): Leave empty for the latest available rate, or pick a specific date for a historical conversion.

How It Works

The converter fetches exchange rate data from the Frankfurter API, which sources its data from the European Central Bank's daily reference rates. All rates are relative to EUR. To convert between two non-EUR currencies, the converter first converts the source amount to EUR and then from EUR to the target currency.

Formula Used

Converted Amount = Input Amount × (Target Rate ÷ Source Rate)
Where rates are relative to 1 EUR.

Example: USD to GBP = Amount × (GBP per EUR ÷ USD per EUR)

Currency Converter

Step-by-Step Example

Convert: 100 USD to INR

Step 1: Fetch ECB rates. Suppose 1 EUR = 1.04 USD, and 1 EUR = 87.50 INR.

Step 2: Convert USD to EUR: 100 ÷ 1.04 = 96.15 EUR.

Step 3: Convert EUR to INR: 96.15 × 87.50 = 8,413.46 INR.

Result: 100 USD ≈ 8,413.46 INR (rate varies daily).

Use Cases

Travel planning: Estimate how much foreign currency you will receive when exchanging money before a trip.
Online shopping: Convert prices on international websites to your local currency before purchasing.
Business invoicing: Calculate equivalent amounts when billing or paying international clients.
Investment research: Track how currency fluctuations affect the value of foreign investments or assets.
Freelancing: Convert between the currency your client pays in and your local currency for income tracking.

Assumptions and Limitations

Exchange rates are published by the ECB on business days only. Weekend and holiday rates show the most recent available rate.
ECB reference rates are mid-market indicative rates, not buy/sell rates. Actual rates from banks and exchange services will include a spread.
The converter does not include fees, commissions, or markups charged by financial institutions.
Cryptocurrency conversions are not supported — only fiat currencies published by the ECB.
Historical rates are available back to January 1999 when the Euro was introduced.

Disclaimer: Exchange rates are for informational purposes only. Actual rates offered by banks and financial institutions may differ. Do not use these rates for high-value financial transactions without verifying with your bank or broker.

Frequently Asked Questions

Where do the exchange rates come from?

The exchange rates come from the European Central Bank (ECB) via the Frankfurter API. The ECB publishes daily reference rates for major world currencies around 16:00 CET on every business day. These are mid-market indicative rates used widely as a neutral reference point. The Frankfurter API is an open-source service that provides free access to these ECB rates.

How often are exchange rates updated?

Rates are updated once per business day by the ECB, typically around 16:00 CET (Central European Time). No updates are published on weekends or ECB holidays. When you query a rate on a Saturday, for example, you will receive Friday's closing rate.

Why is the rate I see here different from my bank?

Banks and currency exchange services add a markup (spread) to the mid-market rate to cover their costs and generate profit. The rate shown here is the ECB mid-market reference rate, which sits between the buy and sell prices. The difference between this rate and your bank's rate is the bank's margin.

Can I look up historical exchange rates?

Yes. Use the optional Date field to select any date from January 4, 1999 onward. The converter will fetch the ECB rate for that specific date. This is useful for historical financial analysis, travel expense reports, or tax filings that require a specific date's rate.

What currencies are supported?

The converter supports all currencies for which the ECB publishes daily rates. This includes approximately 30 currencies such as USD, GBP, JPY, AUD, CAD, CHF, CNY, INR, and many others. The full list depends on the ECB's current publication scope.

Is this converter suitable for financial transactions?

This converter provides informational estimates based on ECB reference rates. It should not be used as the sole basis for high-value financial transactions. For actual transfers, consult your bank, broker, or payment provider for the exact rate and fees that will apply to your transaction.

What is a mid-market exchange rate?

The mid-market rate is the midpoint between the buy (bid) and sell (ask) prices of two currencies on the global market. It represents the fairest exchange rate available and is used by central banks, financial news outlets, and currency calculators as a neutral reference. No bank or exchange service offers this exact rate to retail customers.

Can I convert cryptocurrencies?

No. This converter only supports fiat currencies published by the ECB. Cryptocurrencies like Bitcoin, Ethereum, and others require real-time data from crypto exchanges and are outside the scope of ECB reference rates. For crypto conversions, use a dedicated cryptocurrency converter.

Sources and References

European Central Bank – Euro Foreign Exchange Reference Rates — Official ECB page for the daily reference rates used by the Frankfurter API.
Frankfurter API Documentation — Documentation for the open-source API providing ECB exchange rate data to this converter.
International Monetary Fund – Exchange Rate Archives — IMF reference for international exchange rate data and methodology.
ISO 4217 – Currency Codes — International standard defining the three-letter currency codes used in this converter.
Schema.org FAQPage Specification — Structured data standard for the FAQ section markup.