Even the exchange of currency for everyday goods and services such as groceries or haircuts involves physical currencies less and less due to the growing popularity of debit cards, credit cards, and mobile payments. Cryptocurrencies are digital currencies operating independently of a central bank or authority, in which encryption techniques are used to regulate the generation of units of currency as well as to verify the transfer of funds. The current technology behind cryptocurrencies is called blockchain, which is a decentralized ledger of all transactions across a peer-to-peer network.
A prominent feature of blockchain is that participants can confirm transactions without the need for a central clearing authority, such as a central bank or government. The value of cryptocurrencies fluctuates, just like a regular currency, and they can be traded in the same way as any other currency. 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:. Anyone who desires to travel to a destination that uses a different currency can benefit from doing some research in advance. Amount From To Show most popular currencies only.
Financial Calculators. Financial Fitness and Health Math Other. Show most popular currencies only. Over 70 million downloads worldwide. Since , the Xe Currency Converter has provided free mid-market exchange rates for millions of users. Our latest currency calculator is a direct descendent of the fast and reliable original "Universal Currency Calculator" and of course it's still free!
Learn more about Xe , our latest money transfer services, and how we became known as the world's currency data authority. Xe Currency Converter Check live foreign currency exchange rates. Convert Send Charts Alerts. We use midmarket rates These are derived from the mid-point between the "buy" and "sell" transactional rates from global currency markets. They are not transactional rates.
Learn more. EUR — Euro. 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.
0コメント