Currency Converter

Currency exchange rates are determined by supply and demand in the foreign exchange market. Key factors include interest rates, inflation, political stability, economic performance, and central bank policies. Rates fluctuate constantly during trading hours based on global market conditions.

The bid rate is what buyers are willing to pay for a currency, while the ask rate is what sellers want to receive. The difference between them is called the spread. Mid-market rates shown in converters are typically the average of bid and ask rates.

Exchange rates update continuously during forex market hours (24 hours on weekdays). This converter caches rates for 1 hour to ensure fast performance while maintaining accuracy. Rates shown are indicative mid-market rates for informational purposes.