Currency Converter
Turn a supplier quote into your own currency with daily reference rates — then remember the rate your bank actually gives you will be a little worse.
Why your bank's rate is different
The rate shown is a mid-market reference: the midpoint between buying and selling prices in the wholesale market. Banks and payment providers add a spread on top, and some charge a fixed transfer fee as well. On a large supplier payment, a spread of even 1–3% can wipe out a meaningful part of your margin, so compare providers before you pay.
Managing currency risk on import orders
- Price in your own currency where suppliers accept it — the supplier then carries the risk (and usually prices it in).
- Lock in a rate with a forward contract if the gap between order and payment is long and the amount is large.
- Match deposits and balances — budget the balance payment at a slightly worse rate than today.
- Build a buffer of a few percent into landed cost when the currency pair is volatile.
Frequently asked questions
Where do these exchange rates come from?
From a free public reference feed (open.er-api.com by ExchangeRate-API) that updates daily. Rates are indicative and may lag fast-moving markets.
Should I pay suppliers in USD or their local currency?
Many Asian suppliers quote in USD. Paying in the supplier's local currency can sometimes earn a better price, but you then carry the exchange risk. Ask for quotes in both and compare.
Does this tool store my amounts?
No. Conversions run in your browser; only the public rate table is downloaded.