Currency converter helps you convert over 170+ currencies across the world get the latest exchange rate of popular currencies. You can convert currency by entering an amount in the box above, also select the currency units you want to convert. The result will be displayed as soon as you press convert button.
The exchange rate is the amount in one currency that you need to pay to buy another currency, i.e. for currency exchange. This currency exchange is often called the exchange rate. There are two types of exchange rates:
Since currencies are always traded in pairs, the exchange rate always affects the value of the currencies in pairs with respect to each other. If the price of the base currency (which you want to buy) is growing, the value of the quoted currency (which you pay for the base currency ) falls in relation to the first.
For example, if you want to buy the euro for US dollars (in the EUR/USD currency pair ) at a rate of 1 euro / 1.25 dollars, you need to pay $ 1.25 to buy 1 euro. If the euro grows, the exchange rate may to become equal, for example, 1 euro / 1.30 dollars. This means that the euro rose in price, and now you need to pay $ 1.30 to buy 1 euro. In other words, the euro has risen in price against the US dollar.
In the Forex currency market there are a large number of currency pairs available for trading. The first currency of each pair is the one you buy or sell (base currency = merchandise) and the second is the one you pay with (secondary currency = money). It does not matter what currency your trading account is in since the change is made automatically and transparently for you. For example if you decide to buy in the pair EUR / USD (Euro Vs US Dollar) you will be buying Euros paying in US Dollars.