Currency conversion is the process of exchanging one currency for another based on current exchange rates. These rates fluctuate constantly due to various economic factors including inflation, interest rates, political stability, and economic performance.

How Exchange Rates Work

Exchange rates are determined by the foreign exchange market (Forex), where currencies are traded. Major factors influencing exchange rates include:

• Interest Rates: Higher rates attract foreign capital
• Economic Performance: Strong economies have stronger currencies
• Political Stability: Stable countries attract investment
• Market Speculation: Trader expectations influence rates

Tips for Currency Conversion

• Check rates before traveling or making international purchases
• Be aware of exchange fees and commissions
• Consider using credit cards with no foreign transaction fees
• Monitor rates for favorable exchange opportunities

Important Notes

This currency converter uses real-time exchange rates from reliable financial data providers. However, the rates shown are for informational purposes only and may differ from actual bank or exchange service rates. Always verify rates with your financial institution before making transactions.