Foreign Exchange
Currency Converter
Convert between 150+ world currencies using live exchange rates updated every 24 hours. Whether you're sending money abroad, pricing imports, booking international travel, or tracking forex for investments — get accurate mid-market rates with no markup.
Popular pairs for India: USD/INR, AED/INR (UAE remittance), GBP/INR, EUR/INR, SGD/INR, and CAD/INR. Note: bank and remittance app rates include a spread of 0.5–3% over the mid-market rate shown here.
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About exchange rates
Rates are fetched from Yahoo Finance (real-time mid-market), with @fawazahmed0/currency-api and open.er-api.com as automatic fallbacks. These are mid-market rates — the midpoint between buy and sell. Banks and remittance services apply a spread (typically 1–3%) on top. Always confirm the exact rate with your provider before transacting large amounts.
Factors That Move Exchange Rates
- Interest rate differentials: Higher interest rates attract foreign capital, strengthening the currency (e.g., USD strengthens when the Fed raises rates).
- Inflation: Higher inflation erodes purchasing power and typically weakens a currency over time.
- Trade balance: A trade surplus (more exports than imports) creates demand for the local currency.
- Geopolitical risk: Political instability or uncertainty drives investors to safe-haven currencies (USD, CHF, JPY).
- Central bank intervention: RBI and other central banks actively buy/sell currencies to stabilize rates.
Frequently Asked Questions
What is the difference between the mid-market rate and the bank rate?▼
The mid-market rate (interbank rate) is the midpoint between buy and sell prices used by banks when trading with each other. When you exchange money at a bank or airport, they apply a markup (spread) of 2–5% on top. Online remittance services like Wise use rates close to the mid-market rate with transparent low fees, often saving 3–5× compared to traditional banks.
When is the best time to exchange currency?▼
Currency markets are most liquid and spreads are tightest during overlapping trading hours: the London-New York overlap (5:30 PM – 9:30 PM IST) sees the highest USD/GBP/EUR volume. For INR pairs, market hours (9 AM – 5 PM IST) on weekdays offer better rates. Avoid exchanging currency on weekends or holidays when rates may be less favourable.
How is USD to INR determined?▼
USD/INR is determined by supply and demand in the forex market, influenced by: India's trade deficit, FII/FDI flows, RBI interventions, global risk sentiment, and crude oil prices (India imports ~85% of its oil needs, paid in USD). The RBI intervenes periodically to prevent excessive volatility in the rupee.
What is TT rate vs card rate in banks?▼
TT (Telegraphic Transfer) rate is used for wire transfers — close to the mid-market rate. Card rate is used for debit/credit card transactions abroad — slightly less favorable. Bill buying/selling rates apply when you physically exchange foreign currency notes. TT rates are the best you'll get from a bank.
Is it cheaper to use a forex card or credit card abroad?▼
A forex card preloaded with foreign currency is typically cheaper: no dynamic currency conversion (DCC) markup, a fixed exchange rate at time of loading, and no foreign transaction fee. Credit cards charge a 2–3.5% foreign transaction fee and use the rate at settlement (1–3 days later). Forex cards are best for known travel destinations; credit cards offer flexibility for unexpected spends.
Understanding Exchange Rates: Mid-Market vs Bank Rate
The exchange rate you see on Google or in a currency converter is the mid-market rate — the midpoint between the buy and sell rates in wholesale currency markets. This is not the rate you get at a bank, airport kiosk, or money transfer service.
Banks and exchange services add a spread — the difference between the mid-market rate and the rate they offer. This spread is their profit margin and can range from 0.5% (online transfer services like Wise or Forex prepaid cards) to 5–8% (airport kiosks, some bank counters). On a ₹5 lakh international transfer, a 3% spread costs ₹15,000 extra.
INR Exchange Rate Context
The Indian Rupee (INR) is a managed floating currency — the Reserve Bank of India (RBI) intervenes in currency markets to reduce excessive volatility, but does not peg the INR to any fixed rate. The RBI publishes reference rates daily at 12:30 PM IST, which are used as benchmark rates by banks.
Key factors that influence the INR: India's current account deficit (India typically imports more than it exports), crude oil prices (India imports ~85% of its oil needs), FII (Foreign Institutional Investor) flows into Indian equity and debt markets, US Federal Reserve policy (a strong USD generally weakens emerging market currencies including INR), and domestic inflation differentials.
Exchange rates in this tool are sourced from Yahoo Finance APIs with automatic fallbacks. Rates shown are mid-market reference rates and may differ from rates offered by banks. Source: RBI (rbi.org.in) for INR reference rates. Last reviewed: October 2025.