How Currency Conversion Works

A currency converter uses real-time market data to provide the relative value of one currency against another. These rates, known as spot rates, fluctuate constantly based on global economic conditions, interest rates, and geopolitical events.

Key Terms

1. Base Currency: The currency you are holding (the "From" currency).
2. Quote Currency: The currency you want to acquire (the "To" currency).
3. Spread: The difference between the buy and sell price, usually charged by banks and forex bureaus.

Note: The rates provided are for informational purposes only. Actual bank rates may vary.