Convert Currency in Seconds — Live ECB Mid-Market Rates
Mid-market rates sourced from the European Central Bank • Updated daily
What is CurrencyConverter247?
CurrencyConverter247 is a free online currency converter that displays live mid-market exchange rates for 30 currencies. It is designed for travellers, businesses and anyone who needs a quick, accurate reference for currency values. No account, app or registration is required.
What is the mid-market rate?
The mid-market rate (also called the interbank rate) is the midpoint between the buy and sell prices of a currency in the foreign exchange market. It is the rate banks use when trading with each other and the most accurate benchmark for what a currency is worth. Banks and money transfer services typically add a margin of 1 to 4 percent on top of the mid-market rate when selling currency to consumers.
What is an exchange rate?
An exchange rate is the price at which one currency can be exchanged for another. For example, a USD/NZD exchange rate of 1.63 means 1 US dollar buys 1.63 New Zealand dollars. Exchange rates fluctuate continuously based on global supply and demand for each currency.
Where do the rates come from?
Rates are sourced from ExchangeRate-API and Frankfurter.app, both of which publish reference rates from the European Central Bank (ECB). The ECB publishes official foreign exchange reference rates each working day based on concertation procedures between European and international central banks.
What you'll actually pay: a worked example
The rate on this page is the mid-market rate, the midpoint between what banks pay and charge each other. Almost nobody hands you that rate. The gap between it and the rate you get is the real cost of changing money, and it is often bigger than any fee on the receipt.
Say you are changing NZ$2,000 into Australian dollars and the mid-market rate is 0.9000. At that rate you would get A$1,800. Here is roughly what different providers turn that into, using typical margins:
| Provider type | Typical margin | You receive |
|---|---|---|
| Mid-market reference | 0% | A$1,800 |
| Specialist transfer service | 0.5% to 1% | A$1,782 to A$1,791 |
| Bank transfer or bank card abroad | 2% to 4% | A$1,728 to A$1,764 |
| Airport exchange booth | 5% to 10% | A$1,620 to A$1,710 |
On a NZ$2,000 exchange the difference between the best and worst option can be more than A$150. Margins vary by provider and by currency, so treat these as ballpark figures and check the quote you are given against the live rate above.
A quick check before you exchange
Type the amount you plan to change into the converter, then ask the provider exactly how much will land in the other currency after all fees. Divide that by your original amount to get the rate you are really being offered. If it is more than about 1% below the mid-market rate for a major currency, it is worth shopping around. When a card terminal or ATM overseas offers to charge you in your home currency, say no and pay in the local currency instead. That option, called dynamic currency conversion, nearly always uses a poor rate.
Why our rates update daily, not every second
The rates here come from the European Central Bank's daily reference rates. They are the benchmark used in contracts, accounting and tax reporting, which makes them a fair yardstick for checking a quote. They do not move minute by minute like a trading screen. If you are timing a large transfer to the hour, use your provider's live quote and use this site to sense-check it.
Popular conversions
NZD to AUD and AUD to NZD for trans-Tasman moves, holidays and contractor payments. USD to NZD and USD to AUD for online shopping and subscriptions billed in US dollars. EUR to USD and GBP to USD for the two most traded routes in the world. Each page has a rate history chart, a ready-reckoner table and a guide to what moves that pair.
Frequently Asked Questions
What is the difference between the mid-market rate and my bank's rate?
Banks and currency exchange services add a margin — typically 1 to 4 percent — on top of the mid-market rate when exchanging currency for customers. The mid-market rate shown here is a reference rate. The actual rate you receive at a bank or exchange counter will be slightly less favourable.
How does currency conversion work?
A currency converter multiplies your input amount by the current exchange rate between the two currencies. CurrencyConverter247 converts all currencies via USD as a common base: it first converts the source currency to USD, then converts USD to the target currency using the current cross-rate.
How often are exchange rates updated?
Exchange rates are updated daily using reference rates from the European Central Bank, published via ExchangeRate-API and Frankfurter.app.
Which currencies does CurrencyConverter247 support?
CurrencyConverter247 supports 30 currencies: USD, EUR, GBP, AUD, NZD, JPY, CAD, CHF, CNY, HKD, SGD, INR, MXN, BRL, ZAR, SEK, NOK, DKK, PLN, CZK, HUF, THB, MYR, IDR, PHP, KRW, AED, SAR, TRY and ILS.
Is CurrencyConverter247 free to use?
Yes. CurrencyConverter247 is completely free with no registration, subscription or account required.
How do I convert between two currencies?
Enter the amount you want to convert in the Amount field, select your source currency in the FROM dropdown, and select your target currency in the TO dropdown. The converted amount appears instantly using the current mid-market exchange rate.
Can I swap the currencies quickly?
Yes. Click the swap button (⇄) between the two currency selectors to instantly reverse the conversion direction.