Some experts say that there is a slight chance that cryptocurrencies become the currency of the future. For the purposes of this calculator, Bitcoin is the only cryptocurrency available for conversion at the moment.
Currencies used in different countries are rarely, if ever, exactly equal in value. As a result, exchange rates the rate at which a currency is exchanged for another exist to enable the equal exchange of currencies.
Real-time exchange rates are supplied by the foreign exchange market forex , the same place where most currency transactions take place. The forex is a global, decentralized, over-the-counter market for the trading of currencies. Each day, trillions of dollars US worth of currency are traded.
The market functions at high speeds, with exchange rates changing every second. The most common forex transactions are exchanges between the U. A forex quote always consists of two currencies, a base currency and a quote currency, sometimes called the counter currency. The following is an example of a forex quote:. The base currency always equals exactly one. In the real world, most exchange rates are given in terms of how much a U.
The euro is different in that it's given in terms of how much a euro is worth in U. When buying foreign currencies, there are usually two prices listed: the buying rate and the selling rate. They are sometimes called the "bid price" and "ask price" for the currency pair, respectively.
Buying foreign currency from a bank or exchange broker involves the selling ask price, which is usually higher than the buying price because, like all merchants, currency brokers sell high and buy low. In the real world, the exchange rates can be influenced by thousands of different factors. The following are a few:. Xe Live Exchange Rates Inverse. The world's most popular currency tools. Xe International Money Transfer. Send money. Xe Currency Charts.
View charts. Xe Rate Alerts. Create alert. Xe Currency Tools. Historical Currency Rates. Travel Expenses Calculator. Currency Email Updates. Business Insider 48m. Cointelegraph 13h. NewsBTC 14h. Cointelegraph 14h. MotleyFool 14h. Cointelegraph 16h. Today in Bitcoin history: year anniversary of transaction between Satoshi and Hal Finney. About the currency calculator Do you deal in shares in different currencies?
Do you like to travel? Do you like to shop on foreign online shops?
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