Currency Converter
Convert between major currencies using current exchange rates.
Result
Enter an amount and select currencies to see the conversion.
Related Tools
Want More?
Unlock AI-powered trade analysis, smart journaling, signal dashboard, and more with KoraFX Premium.
Go PremiumUnderstanding Currency Exchange Rates
Exchange rates represent the value of one currency relative to another. They are determined by supply and demand in the global foreign exchange market, which processes over $7.5 trillion in daily volume. Exchange rates fluctuate constantly based on economic data, central bank policies, geopolitical events, and market sentiment.
The rates displayed in our converter represent mid-market rates, which are the midpoint between the buy and sell prices quoted by banks and institutional traders. When you actually exchange currency through a bank or broker, you will receive a slightly less favorable rate due to the spread — the difference between the bid and ask price, which represents the provider's fee.
Major vs. Minor vs. Exotic Currency Pairs
Major currency pairs always include the US dollar and one of the other seven most traded currencies (EUR, GBP, JPY, AUD, NZD, CAD, CHF). These pairs have the highest liquidity, tightest spreads, and most predictable movements. Examples include EUR/USD, GBP/USD, and USD/JPY.
Minor pairs (crosses) involve two major currencies but exclude the US dollar, such as EUR/GBP or AUD/NZD. These pairs have slightly wider spreads but still offer good liquidity. Exotic pairs combine a major currency with a developing economy's currency, such as USD/TRY or EUR/ZAR. Exotic pairs have the widest spreads and highest volatility.
Factors That Influence Exchange Rates
Interest rate differentials are the primary driver of exchange rate movements. When a central bank raises interest rates, its currency typically strengthens as higher rates attract foreign investment. Other important factors include inflation rates, GDP growth, employment data, trade balances, and political stability.
For forex traders, monitoring economic calendars and central bank communications is essential for anticipating exchange rate movements. Our Economic Calendar tool can help you stay informed about upcoming data releases that may impact the currencies you trade. Understanding these fundamental drivers, combined with technical analysis, provides a more complete picture of where exchange rates might be headed.