Exchange rates fluctuate constantly based on global currency markets that operate 24 hours a day, 5 days a week. The rates shown are mid-market rates — the midpoint between buy and sell prices. Banks and exchange services typically add a margin of 1–5% on top of these rates.
Why Do Exchange Rates Change?
Currency values are influenced by interest rates, inflation, economic growth, political stability, and market sentiment. Central bank decisions — especially from the US Federal Reserve, European Central Bank, and Bank of England — have the largest short-term impact on exchange rates.
Mid-Market Rate vs Bank Rate
The mid-market rate (also called interbank rate or spot rate) is the "true" exchange rate without any markup. Banks, airports, and currency exchange services add a profit margin of 1–8% on top. For large transfers, services like Wise (formerly TransferWise) offer rates much closer to the mid-market rate.
Best Ways to Exchange Currency
Method
Typical Spread
Best For
Online transfer (Wise, Revolut)
0.3–0.5%
Large transfers
ATM abroad (local currency)
1–3%
Travel cash
Bank wire transfer
2–5%
Large amounts
Credit card abroad
1–3%
Daily spending
Airport exchange
5–15%
Emergency only
⚠️ Rates are for informational purposes only. Actual transaction rates from banks and exchange services will differ. Always verify rates before making financial transactions.
The rates shown are mid-market rates sourced from open exchange rate data, updated daily. They represent the true midpoint between buy and sell prices in global currency markets. For real transactions, banks and money transfer services apply their own margins on top of these rates.
For international transfers, specialist services like Wise (formerly TransferWise), Revolut, or OFX typically offer rates 4–8× better than traditional banks. For smaller amounts under $500, the difference may be less significant. Always compare the total cost including fees, not just the exchange rate.
By exchange rate value, the Kuwaiti Dinar (KWD) is consistently the highest-valued currency against the USD — roughly 3.25 USD per KWD. However, currency "strength" is more accurately measured by purchasing power parity (PPP) within a country's own economy, not just the exchange rate number.
Currency markets are most liquid and spreads are tightest during the overlap of London and New York trading sessions (roughly 8 AM–12 PM EST). Avoid exchanging currency on weekends or holidays when markets are closed and banks use less favorable rates. For travel, order foreign currency 1–2 weeks in advance.
These are ISO 4217 currency codes — standardized 3-letter abbreviations. The first two letters usually represent the country (US = United States, EU = European Union, GB = Great Britain) and the third represents the currency name (D = Dollar, R = Ruble, P = Pound). All 170+ currencies in this converter use these codes.