Current Money Exchange Rates With This Online Currency Converter
About the Currency Converter With Yahoo
Money exchange rates are really important, especially if you pay, or get paid from abroad. As you know, they are constantly changing. That’s why having a reliable currency converter near at hand is a must. For this purpose, we developed this widget, which can make currency conversions in real time using the quotes from yahoo finance – a very reliable source. however, please note that the exchange rates from Yahoo are not the exact ones your broker would work with or your change will exchange your money at. This tool works with international rates that are used on the interbank market. This is where the biggest banks in the world exchange their foreign currency. This converter can give you a nice idea about how favorable the exchange rates of your broker/bank actually are an is he or she trying to rip you off.
How to Use the Currency Converter
Using the money converter is not rocket science at all. Just use the drop-down lists to choose the currencies between which you would like to make a conversion. Then simply press the button and wait a second for the result to appear. You will get the exact current exchange rate for the selected currencies. If you press the button once again, the result may differ from the previous one. Please know, that exchange rates are constantly fluctuating and they can change even several times per second. This is why usually banks, brokers, and other financial institutions set a fixed exchange rate for the day and change it only if the actual rate on the FOREX market shifts reasonably. These institutions always offer you a little-changed rate in their favor in order to make a profit from each transaction. For example, if you want to buy USD and the actual EUR/USD rate is 1.1000, the bank will offer you a rate of 1.1040 to buy USD (0.0040 more) and 1.0940 if you want to sell USD (these numbers are tentative). This way the bank makes some profit for providing the money exchange service. Usually, there are no other taxes involved, just the small changes in the rate in favor of the bank. This converter from below will show you the interbank rate and not your bank’s one:
This online widget is provided AS IS, without any guarantees. It will show you the current exchange rates on the global FOREX market. Please, have in mind that this might not, and probably will not, be the exact rate you can exchange your money at.