Currency Converter

Instructions:

• Enter the currency codes, amount, and select conversion currencies.
• Click "Convert" to perform currency conversion.
• Click "Clear" to clear the result.
• Click "Copy" to copy the result to the clipboard.
• Click "Reverse" to swap the conversion currencies.

From Currency:

Amount:

To Currency:

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Conversion History

Currency Converter is a tool that helps to convert one currency into another. It is used to calculate the exchange rate between two currencies. The exchange rate is the value of one currency for the purpose of conversion to another. Currency converters are used by travelers, investors, and businesses to calculate the value of one currency in relation to another.

Concepts

The following are some of the key concepts that underlie the Currency Converter:

Exchange Rates

An exchange rate is the value of one currency for the purpose of conversion to another. It is the rate at which one currency will be exchanged for another. Exchange rates are determined by the foreign exchange market, the world’s largest financial market.

Currency Pairs

A currency pair is the quotation of two different currencies, with the value of one currency being quoted against the other. The first currency in the pair is called the base currency, and the second currency is called the quote currency. For example, in the currency pair USD/JPY, the USD is the base currency, and the JPY is the quote currency.

Formulas

The following formula is used to calculate the exchange rate between two currencies:

Exchange Rate = Base Currency / Quote Currency

For example, if the exchange rate between USD and JPY is 110, then 1 USD is equal to 110 JPY.

Benefits

Currency Converter is a useful tool for converting one currency into another. It can save time and effort when compared to calculating the exchange rate by hand. The calculator can be used to calculate the exchange rate for a variety of currencies, including major global currencies, precious metals, and cryptocurrencies.

Interesting Facts

• The foreign exchange market is the largest financial market in the world, with an average daily trading volume of over $5 trillion.
• The US dollar is the most traded currency in the world, followed by the euro and the Japanese yen.
• The exchange rate between two currencies can be affected by a variety of factors, including interest rates, inflation, and political stability.

References

• Federal Reserve Bank of St. Louis: Exchange Rates and International Data

Last Updated : 25 November, 2023