Currency Exchange Rate Calculator
Don't let your money get lost in translation. Use our exchange rate calculator to convert any amount of money from one currency to another. 200+ currencies supported.
What is a Currency Exchange Rate Calculator?
The foreign exchange market is a global market where customers can trade a range of currencies for a wide variety of purposes. Different regions and countries use different currencies as a means of transacting for goods and services. The rates at which these currencies are exchanged depends on a wide variety of economic and political factors. These rates change on a daily basis, meaning that the rate you get today may not be the rate you get tomorrow.
To assist users looking to convert one currency to another, we have developed the Hardbacon Currency Exchange Rate Calculator that can be used to:
- Determine the particular rate at which two currencies can be exchanged
- Explore a wide range of currency conversion rates
- Make decisions based on existing rates
- Convert a specific amount into another foreign currency
How to use the Hardbacon Currency Exchange Rate Calculator
The Hardbacon Currency Exchange Rate Calculator is designed to be highly user-friendly. With just a few steps, you should be able to see both the going exchange rate and the amount that you can expect to receive in exchange for your desired currency. There are only three inputs required for the calculator to work its magic:
- Home currency: This is the currency that you currently own and want to convert into another currency.
- Amount: This number represents the amount you want to have converted to another currency.
- Foreign currency: The foreign currency is the currency that you are looking to have your home currency converted into.
Understanding the results of the Currency Exchange Rate Calculator
Once you have entered the three inputs above, you simply need to scroll down to see the results of your currency conversion. There are two key results that you can see here:
- Total amount: Based on the inputs you have entered, you can see how much of the foreign currency you can expect to receive for the level of home currency that you have input. For example, if you entered CAD 100 as your home currency and wanted to convert that to USD, you should see approximately USD 75 to USD 79 or so (depending on the day).
- Exchange Rate: To see the exact exchange rate, all you need to do is simply enter ‘1’ into the middle field. For example, CAD 1 converted to USD would be approximately USD 0.75 to USD 0.79.
Learn more about the Currency Exchange Rate Calculator Inputs
To understand the inputs required in the Hardbacon Currency Exchange Rate Calculator, use the below guide.
- Home currency: To pick the currency you currently own, use the dropdown list and select the currency. To help you verify that you have picked the right one, you should see the flag of the country besides the currency name as well.
- Amount: This is simply the amount you want to convert. For example, if you are looking to travel to a foreign country and have a budget in mind, you can simply enter the amount of the budget to see how much you will get of the foreign currency.
- Foreign currency: To pick the currency you want to convert to, use the dropdown list again. Once again, the flag of the country will help you pick the right one.
Frequently Asked Question
1. How to calculate the exchange rate between two currencies?
To calculate the exchange rate between two currencies, enter ‘1’ into the ‘Amount’ field. Once you scroll down, you should see the exchange rate as the output. For example, to get the CAD to USD exchange rate, follow these steps:
1) Enter ‘CAD: Canadian Dollar’ as the home currency
2) Enter ‘1’ into the ‘Amount’
3) Enter ‘USD: United States Dollar’ as the foreign currency
The output should show you the current exchange rate.
2. How do I calculate currency exchange rates manually?
If you know the going exchange rate, you can simply multiply your home currency. For example, if you know that the CAD to USD is currently 0.79, then you can multiply your amount by 0.79 to get the corresponding amount in USD.
3. How do you find currency exchange rates?
For the most popular currencies, the Bank of Canada publishes updated rates at the end of each day. This is one of the most accurate sources of currency information you can find online.
4. What factors affect currency exchange rates?
Currency rates are contingent on a range of factors, including, but not limited to:
- Interest rates
- Investor confidence
- Country’s trade surplus/deficit
- Political stability