Frequently Asked Questions
There’s the mid-market rate (the true value of a currency, which this tool uses), the bank rate (which includes a profit margin for the bank), and the travel rate (what you get at a currency exchange booth, which is usually less favorable).
Exchange rates change due to a variety of factors, including supply and demand, economic stability, inflation, interest rates, and global events.
This depends on your destination. Many countries are now cashless, so carrying a credit card is often a better option. Use a currency converter to estimate your daily spending and carry a small amount of cash for small purchases.
The spread is the difference between the buying and selling price of a currency. Banks and exchange services make their money from this spread.
Typically, exchanging money at a bank or using an ATM in the destination country offers a better exchange rate than at an airport, where rates are often less favorable due to convenience fees.
The simplest way is to multiply the amount you have by the conversion rate. For example, to convert 100 USD to INR, you would multiply 100 by the USD to INR rate.
A travel currency converter helps you understand the value of your money in a foreign country, making it easier to budget and prevent overspending.
