How often are exchange rates updated?

Rates are sourced from the European Central Bank (ECB) via the Frankfurter API and updated every business day around 4 PM Central European Time. Weekend rates are the same as Friday's closing rates.

Which currencies are supported?

30+ major currencies including USD, EUR, GBP, INR, JPY, AUD, CAD, CHF, CNY, SGD, HKD, and all major currencies from Asia, Europe, Americas, Africa, and the Middle East.

Are these official exchange rates?

The ECB reference rates are indicative rates - the actual rates you get from banks, payment apps, or currency exchanges will differ due to spreads and fees. These rates are useful for estimation and international comparisons.

What is an exchange rate?

An exchange rate is the price of one currency expressed in another. For example, USD/INR = 85 means 1 US Dollar buys 85 Indian Rupees. Rates fluctuate based on trade, inflation, interest rates, and market sentiment.

Why does the Rupee exchange rate change every day?

The INR exchange rate floats in a managed float system - determined primarily by market supply and demand, with RBI intervening to prevent excessive volatility. Key factors driving daily changes: Trade balance - India import bill (oil, gold, electronics) exceeds exports, creating dollar demand that weakens the rupee. FII flows - when foreign investors buy Indian stocks or bonds, they bring in dollars (rupee strengthens); selling reverses this. US Fed rate decisions - higher US rates attract capital away from emerging markets, weakening the rupee. Oil prices - India imports 80% of its oil, so higher oil prices increase dollar outflow and weaken INR.

💱

Currency Converter

Convert between 30+ currencies with live exchange rates from the European Central Bank.

Amount

From

Loading rates…

Rates via European Central Bank (frankfurter.app)

About the Currency Converter

Currency exchange rates change every second based on supply and demand in global forex markets. Our currency converter uses live rates from the European Central Bank (via Frankfurter API) updated throughout the day. Whether you're sending money abroad, planning international travel, or tracking your USD-denominated investments, accurate exchange rates make a significant financial difference.

Currency Conversion

Converted Amount = Input Amount × Exchange Rate · Effective rate = Bank rate − Spread (typically 1–3%)

Mid-market rate: The 'true' rate you see on Google · Bank/remittance rate: Mid-market minus a spread for profit · Spread: Can be 0.5% (international transfers) to 5%+ (airport counters)

Worked Example

Sending ₹5 lakh to the USA

Amount:₹5,00,000

Mid-market rate:~₹83.5/USD

Bank spread:~2%

At mid-market: $5,988 · At bank rate (after 2% spread): $5,870 · Hidden cost of spread: ~$118 (≈₹9,850)

Tips & Insights

1
Never exchange currency at airports - rates are 5–8% worse than bank rates.
2
For international wire transfers, compare Wise, Western Union, and bank SWIFT rates - differences can be thousands of rupees.
3
RBI's benchmark rate (USD/INR) is the official reference rate published daily at 12:30 PM IST.
4
Forward contracts let businesses lock in today's exchange rate for future transactions - useful if rupee is expected to depreciate.
5
When booking international flights or hotels in INR vs USD, always check which currency gives you the better deal after conversion.

Why this matters for you

India is one of the world's largest recipients of remittances (over $100 billion in 2023), and millions of Indians invest in international markets via LRS (Liberalised Remittance Scheme). Understanding exchange rates and spread costs can save crores at scale - even for individual remittances, the right provider can save ₹5,000–₹15,000 on a single transaction.