Currency Converter
Convert between currencies using a rate you supply, including bank margin and fees.
What the Currency Converter does
Converting currency multiplies by the exchange rate, but the rate you are offered is rarely the mid-market rate quoted on financial sites. The difference is the provider's margin, and it is usually a larger cost than any advertised fee.
Formula
Mid-market amount = Amount × RateEffective rate = Rate × (1 − Margin)Received = Amount × Effective rate − Fee
Inputs explained
| Input | Unit | Required | Notes |
|---|---|---|---|
| Amount to convert | number | Yes | Accepts more than 0. |
| Exchange rate | number | Yes | How many units of the target currency one unit of the source buys. Accepts more than 0. |
| Provider margin | % | Optional | The markup built into the rate you are offered. |
| Fixed fee | number | Optional | Accepts 0 or more. |
How to use it
- Enter Amount to convert and Exchange rate.
- Optionally add Provider margin and Fixed fee.
- Select Calculate.
Worked example
Converting 1,000 units at a 1.2750 rate with a 3% margin and a 4-unit fee.
- Amount
- 1000
- Rate
- 1.2750
- Margin
- 3
- Fee
- 4
Mid-market 1,275.00, but you receive 1,232.75 — a total cost of 42.25, about 3.3%.
Frequently asked questions
How do I compare providers fairly?
Ignore the advertised fee and compare only the final amount received. That single figure captures the margin and the fee together.
Should I use a card abroad or exchange cash?
Cards usually give a better rate than airport bureaux, but check for foreign transaction fees and always decline the merchant's offer to charge in your home currency.