Whether you shop online, travel, pay a supplier abroad or invoice a customer in another country, you need to know how much a euro is worth in another currency. This guide explains how exchange rates work and how to use a free currency converter correctly.
The converter covers the euro and many major currencies, including the US dollar, the British pound, the Swiss franc, the Polish zloty, the Swedish krona and the Japanese yen.
The rates come from the Frankfurter service, which publishes the euro foreign exchange reference rates of the European Central Bank (ECB). The ECB publishes these reference rates on working days, usually around 16:00 Central European Time. This means the figure you see is a daily reference rate, not a live second-by-second trading quote.
A reference rate is close to the "mid-market" rate, the halfway point between buying and selling prices. Banks, card providers and exchange offices usually add a margin or a fee. So when you actually exchange money, you may receive slightly less than the converter shows. Use the converter to estimate the price and compare offers, not to guess the exact amount your bank will give you.
Many European countries use the euro, but not all. The United Kingdom, Switzerland, Poland, Sweden, Denmark, Norway, Czechia and Hungary have their own currencies, so a price in euros may need conversion. Always check the currency before paying.
The converter tries more than one data source. If rates cannot be loaded because of a network problem, use the retry button or try again in a few minutes.
They are daily reference rates from the European Central Bank. They update on working days.
Banks and exchange services add a margin or fees to the reference rate.
Yes, it is free and needs no signup.
No. It needs an internet connection to load the latest rates.
Suppose you want to buy a product that costs 250 USD from a US shop and your reference rate is 1 EUR = 1.08 USD. Dividing 250 by 1.08 gives about 231.48 EUR. Your card provider may add a margin of 1-3% or a fixed foreign transaction fee, so the final charge could be around 235-240 EUR. Knowing this helps you decide whether the purchase is worth it.
A rate written "1 EUR = 1.08 USD" means one euro buys 1.08 dollars. To go the other way, divide: 1 USD = 1 / 1.08 = 0.926 EUR. If the first currency in the pair gets stronger, you receive more of the second one for each unit. When the euro strengthens against the dollar, goods priced in dollars become cheaper for you.
Rates move because of interest rates, inflation, economic news, trade and investor expectations. Daily changes are usually small, but over weeks or months they can become large. For large payments or long-term contracts in another currency, businesses sometimes agree a fixed rate or use hedging products. Individuals can simply compare rates on the day of the transfer.
If you sell abroad, the exchange rate affects your profit. Decide in advance which rate you will use, for example the ECB rate on the invoice date, and write it on the invoice. Keep a record of the rate so that your accountant can check your figures later. Remember that VAT and accounting rules in your country may require a specific source of rates for tax reporting.
Before a trip, note the rate for your destination currency and round it to an easy number. If 1 EUR is about 4.3 Polish zloty, divide zloty prices by four to estimate euros. If 1 EUR is about 0.85 British pounds, add around 15% to a pound price to see the euro value. Quick mental maths like this helps you spot expensive items while you shop.