Currency Converter

Convert between 30+ currencies with real-time exchange rates for forex trading

1 USD = 0.9200 EUR
920.00 EUR
1 EUR = 1.0870 USD

Popular Currency Pairs

* Exchange rates are approximations for educational purposes. For trading, use your broker's live rates.

Understanding Currency Exchange

The foreign exchange (forex) market is the largest financial market in the world, with over $6 trillion traded daily. Currency values fluctuate constantly based on economic factors, central bank policies, and market sentiment.

Currency Categories

Major Currencies

  • USD - US Dollar
  • EUR - Euro
  • GBP - British Pound
  • JPY - Japanese Yen
  • CHF - Swiss Franc
  • AUD - Australian Dollar
  • CAD - Canadian Dollar

Minor Currencies

  • NZD - New Zealand Dollar
  • SEK - Swedish Krona
  • NOK - Norwegian Krone
  • DKK - Danish Krone
  • SGD - Singapore Dollar
  • HKD - Hong Kong Dollar

Exotic Currencies

  • MXN - Mexican Peso
  • ZAR - South African Rand
  • TRY - Turkish Lira
  • BRL - Brazilian Real
  • INR - Indian Rupee
  • PLN - Polish Zloty

Forex Trading Sessions

Sydney
10 PM - 7 AM GMT
Tokyo
12 AM - 9 AM GMT
London
8 AM - 5 PM GMT
New York
1 PM - 10 PM GMT

What Affects Exchange Rates?

Interest Rates: Higher rates attract foreign capital, strengthening the currency.

Inflation: Lower inflation typically strengthens a currency's purchasing power.

Economic Data: GDP, employment, and trade balance reports impact currency values.

Political Stability: Countries with stable governments attract more investment.

Central Bank Policy: Monetary policy decisions directly affect currency supply and demand.

Frequently Asked Questions

What are the major currency pairs in forex?
Major currency pairs include EUR/USD (Euro/Dollar), GBP/USD (Pound/Dollar), USD/JPY (Dollar/Yen), USD/CHF (Dollar/Swiss Franc), AUD/USD, and USD/CAD. These pairs have the highest liquidity and typically the tightest spreads.
What affects currency exchange rates?
Exchange rates are influenced by interest rates, inflation, economic indicators (GDP, employment, trade balance), political stability, central bank policies, and market sentiment. News events can cause sudden rate changes.
What is the bid-ask spread?
The bid-ask spread is the difference between the buying price (ask) and selling price (bid). Major pairs like EUR/USD have tight spreads (0.1-0.5 pips), while exotic pairs have wider spreads due to lower liquidity.
When is the forex market open?
The forex market is open 24 hours a day, 5 days a week. It opens Sunday 5 PM EST (Sydney session) and closes Friday 5 PM EST (New York close). The major sessions overlap during London/New York hours for peak liquidity.
What is a pip in forex?
A pip (percentage in point) is the smallest price move in a currency pair. For most pairs, it's 0.0001 (fourth decimal). For JPY pairs, it's 0.01 (second decimal). Pips are used to measure profit/loss and spread.

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