How often are exchange rates updated?

Our exchange rates are updated hourly from reliable financial sources. For most users, this is accurate enough. Remember that actual rates at banks and exchange offices may vary due to their margins.

What is purchasing power parity (PPP)?

Purchasing power parity shows how much you can buy with your money in different countries. For example, $100 USD can buy more goods in Poland than in Switzerland due to cost of living differences. We show this as "Feels Like" to help you understand your money's real value abroad.

Why are bank rates different from the market rate?

Banks and exchange services add a margin (typically 2-5%) to the mid-market rate. We show the mid-market rate for comparison - this is the "real" exchange rate without any fee. Services like Wise offer rates closer to mid-market.

What is the best way to exchange currency?

For larger amounts, services like Wise or Revolut offer near-market rates with low fees. Credit cards without foreign transaction fees are good for everyday spending abroad. Avoid exchanging at airports - they typically have the worst rates.

Currency Converter

Convert currencies with live rates, compare fees, and see your money's real purchasing power abroad.

Currency Converter

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How to Convert Currency

Our currency converter uses mid-market exchange rates updated hourly to give you the most accurate conversion possible. The mid-market rate is the real exchange rate without any markup—the rate banks use when trading with each other.

When exchanging money through banks or currency exchange services, you typically pay 2-5% more than the mid-market rate. Our fee comparison shows exactly how much you'll receive after typical fees from bank transfers, credit cards, and ATM withdrawals.

Understanding Purchasing Power Parity

Exchange rates tell you how much foreign currency you'll get, but they don't tell the whole story. Purchasing Power Parity (PPP) shows what your money is actually worth in another country based on local prices. For example, $100 might buy more goods in Thailand than in Switzerland, even after currency conversion.

Our "Feels Like" feature uses PPP data to show the real buying power of your converted money, helping you budget more accurately for travel or international purchases.

Financial Accuracy

Written by: LifeByNumbers Team

Disclaimer: This calculator provides estimates for informational purposes only. This is not financial, tax, or legal advice. Please consult a qualified financial advisor for advice specific to your situation.