Trading tools
166 currencies · central-bank reference rates
Currency converter.
Convert any amount, see the rate and its inverse, and learn where the number comes from. Includes a markup simulator so you know what your bank is really charging.
Converter
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The working
Where this rate comes from.
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Understand it
Reading an exchange rate without getting it backwards.
Base and quote
In EUR/USD = 1.15, the euro is the base currency and the dollar the quote: 1 euro costs 1.15 dollars. If the number rises, the euro got more expensive. To go from base to quote you multiply; to go back, you divide. Nearly every conversion error is multiplying when you should have divided.
Why everything goes through the dollar
There is no deep, direct market for every combination of 166 currencies. What exists is a price for nearly all of them against the dollar, and the rest is derived. A Mexican peso against an Argentine peso is, in practice, MXN→USD→ARS. That is a cross rate, and it is the calculation shown above with today's data.
Reference rate, market rate and “counter” rate
- Reference: a daily snapshot published by a central bank. This page uses it. Good for accounting, estimating and comparing.
- Market: what you see in MT5, with bid and ask, changing every second.
- Counter: reference or market plus the markup of whoever changes your money. The difference is their profit, even when they advertise “0% commission”.
Why a trader should care
If your account is in euros and you trade GBP/JPY, your profit is born in yen and your broker converts it to euros on every close. Pip value, required margin and the final result all depend on that rate. The lot size calculator uses these same rates to do that conversion for you.
FAQ
Frequently asked questions.
Where do the exchange rates come from?
From the reference rates published by central banks (the ECB among others), served by the public, open-source Frankfurter API. They update once a day on business days.
Is this the rate my bank or broker will give me?
No. It is the mid reference rate, with no markup. A bank, a card or an exchange bureau applies a spread that typically runs from 0.5% to 5%. Use the “markup” field to see what that costs you in money.
Can I use it to trade forex?
Not to trade: these are not live prices and have no bid/ask. It is for converting results into your currency, estimating pip value on a non-dollar account and understanding how crosses are built.
What is a cross rate?
The rate between two currencies that does not include the dollar, calculated through it. If 1 USD = 0.87 EUR and 1 USD = 157 JPY, then 1 EUR = 157 ÷ 0.87 ≈ 180 JPY. The tool shows that division with the day's real data.
Why is the inverse rate not just “the same number backwards”?
Mathematically it is: 1 ÷ rate. If 1 EUR = 1.15 USD then 1 USD = 0.8696 EUR. The usual mistake is subtracting instead of dividing, which is why we always show both.
Are there rates at the weekend?
Central banks do not publish at weekends or on holidays, so you will see the last business-day figure. The exact date is always shown under the result.
Keep going
More tools.
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How many lots to open to risk exactly what you intend.
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See the product →Educational tool. Results are indicative and are not financial or investment advice. Leveraged trading can lose you all of your capital. Always check the symbol specification at your broker and the current rules of your prop firm.