How the Currency Converter works
To initiate a new conversion, follow these steps:
- Choose your base currency from any of the 6 dropdown lists
- Select up to 5 other currencies
- Input the amount of the base currency
- And the exchange rates will automatically be calculated
If you wish to change any of the currencies, simply select your desired currency from the dropdown list.
Frequently asked questions
How is the exchange rate calculated?
Exchange rates are determined by either floating rate or fixed rate.
Floating rates are calculated based on supply and demand on the global markets. A high demand for a currency will increase its value while low demands will drive the price down.
On the other hand, a fixed rate is when a currency is set against another major currency, such as the Japanese yen or US dollar, by a government through its central bank.
What day of the week is the best time to exchange currency?
There is no one specific day that is the best time to exchange currency as forex pricing is based on numerous factors, such as economic and political events, news releases, investors’ confidence, and more.
Which currency converter is the best?
A currency converter that is updated in real-time, like the Exness Currency Converter, is best suited for knowing up-to-date exchange rates.
Ready to get started?
It only takes 3 minutes to get your account set up and ready for trading