Our currency converter enables you to see the latest exchange rates in the forex market. Simply select a currency to convert from and to, type an amount and find out the current rate. You can also get more context with our forex chart.
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How do currency rates work?
Currency exchange rates work by comparing the value of one currency against another. Traders speculate on these rapidly changing rates to try and profit from their fluctuations in price.
Widely traded pairs include EUR/USD, which tells traders how many US dollars are required to buy one euro. If you go long on EUR/USD, you would be hoping for the euro to strengthen and the US dollar to weaken.
In order to inform their trading decisions, forex traders often keep on top of fundamental market events that can affect currency prices and undertake technical analysis governed by prior data, Find out more on forex trading via our comprehensive education section.
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