How to use the MarketsHQ currency converter
Type an amount, pick the currency you are converting fromand the currency you want to convert to, and the result updates instantly using the latest mid-market rate. Use the ⇄ button to swap directions in one click — handy when you want to check both sides of a trade or a transfer.
All 20+ supported currencies use the same underlying USD-base reference feed, so cross-rates (for example GBP → JPY) are calculated consistently and match the numbers you see on Reuters, Bloomberg or Google Finance.
Why the mid-market rate matters
The mid-market rate is the midpoint between the interbank bid and ask — the price large banks trade with each other on the $7 trillion-a-day spot FX market. It is the fairest reference for a currency pair, and it is the benchmark that consumer-facing services (banks, cards, PayPal, Wise, Revolut) mark up when they price a retail transfer. Comparing any quote you receive against the number on this page shows exactly how much margin the provider is charging on top of the raw rate.
Interbank vs. bank and card rates
High-street banks typically add 1.5% to 4% to the mid-market rate on foreign transfers and card transactions. Fintech transfer services usually add 0.3% to 1%, and dynamic-currency-conversion (DCC) at overseas ATMs can add 6% or more. None of those markups appear on the receipt as a fee — they are baked into the exchange rate itself, which is why an independent mid-market benchmark is the only reliable way to compare providers.
Combining the converter with other MarketsHQ tools
- Check the economic calendar before large transfers — central-bank decisions and CPI prints routinely move majors by 1–2% in a single session.
- Use technical analysis to see whether EUR/USD, GBP/USD or USD/JPY are near key support/resistance before locking in a rate.
- Pair with the earnings calendar when converting foreign-currency dividends or ADR proceeds.
Currency converter FAQ
›What is a currency exchange rate?
A currency exchange rate is the price of one currency expressed in another. If EUR/USD is 1.08, one euro buys 1.08 US dollars. Rates change continuously during the trading week as banks, hedge funds and corporates buy and sell currencies on the interbank market.
›What is the difference between the interbank rate and the rate my bank gives me?
The interbank (or mid-market) rate is the wholesale price large banks trade with each other. Retail banks, card networks and money-transfer providers add a spread — typically 0.5% to 4% — plus a fixed fee. The MarketsHQ converter shows the mid-market rate, so it is the fair benchmark to measure any retail quote against.
›Why do exchange rates change all the time?
Currencies are priced by supply and demand across the $7 trillion-a-day forex market. Interest-rate expectations, inflation prints, central-bank decisions, trade flows and risk sentiment all move rates second by second, 24 hours a day from Sunday evening to Friday evening.
›Are the rates on this page the mid-market rate?
Yes. The converter uses interbank USD-base rates cached and refreshed every few minutes. It is the same reference rate quoted by Reuters, Bloomberg and Google Finance — before any bank margin, card fee or ATM surcharge is applied.
›Can I convert currencies on weekends?
You can convert at any time, but weekend numbers use Friday's closing interbank rate because the spot FX market is closed from about 17:00 New York on Friday to 17:00 Sunday. Live prices resume when Sydney and Tokyo desks reopen.
›Is the MarketsHQ currency converter free?
Yes. The converter is free, requires no sign-up and covers 20+ major and emerging-market currencies. Data is provided for information only and is not a quote for a real transaction.