Currency Converter
Convert between world currencies using current exchange rates
Converted Amount:
0.00
Exchange rate: 1 USD = 0.85 EUR
Rates last updated: Loading...
Currency Conversion
Currency exchange rates fluctuate constantly based on global financial markets.
How to Use This Tool
- Enter the required values in the input fields
- Select any necessary options or units from the dropdown menus
- Click the calculate button
- View your results in the result section
Why We Use This Tool
- Accuracy: Get precise calculations without manual computation errors
- Efficiency: Save time by quickly performing complex calculations
- Learning: Understand the formulas and concepts behind the calculations
- Decision-making: Use reliable data to make informed choices
Major World Currencies
| Currency | Code | Symbol | Countries |
|---|---|---|---|
| US Dollar | USD | $ | United States |
| Euro | EUR | € | Eurozone countries |
| British Pound | GBP | £ | United Kingdom |
| Japanese Yen | JPY | ¥ | Japan |
| Canadian Dollar | CAD | $ | Canada |
How Exchange Rates Work
Exchange rates are determined by:
- Supply and demand in foreign exchange markets
- Interest rates set by central banks
- Economic indicators (GDP, employment, inflation)
- Political stability and economic performance
Conversion Formula
Converted Amount = Amount x Exchange Rate
Example: Converting 100 USD to EUR at rate 0.85
100 USD x 0.85 = 85 EUR
Historical Context
The modern system of floating exchange rates began in 1971 when the US abandoned the gold standard. Before that, most currencies were pegged to the US dollar, which was convertible to gold.