
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated . What changed?
Before you take a trip abroad or do business with another country, find out what the currency exchange rates are. The rate of exchange can impact the money you can make or how much you’ll spend abroad.
An exchange rate is the value, or price, of one currency compared to another currency. Exchange rates are written in two ways, depending on which way you want to exchange. For example, the US dollar to euro relationship can be written as:
Two types of currency pairs exist in the world: fixed and flexible.
Exchange rates that shift constantly and are determined by the maximum amount someone is willing to pay for a currency and the minimum amount someone is willing to sell it for — similar to stocks. The globally accepted exchange rates are what you see when you search a currency pair on Google or XE. These are known as the mid-market rate, short for the middle-market.
Opposite of flexible currencies, these are designed to maintain a consistent exchange rate with certain currency pairs. A country may fix or “peg” its currency to another currency with it trades with. This can help increase stability between the two countries for imports and exports. The Chinese yuan is pegged to the USD, and generally stays around 1 USD = 7 CNY.
If you’re traveling from the US to France, you need to exchange your dollars for euros at a bank or foreign exchange counter. The amount of euros you get for each dollar depends on the exchange rate between the two currencies at the time. If the exchange rate is roughly 0.90, for example, you’ll get 0.90 euros for each dollar you exchange. At this price, $100 will buy you about €90.
Foreign exchange rates can have a strong impact on travelers, students and businesses that deal in foreign currencies.
Getting the best exchange rate depends on your situation and the currency you are exchanging. Here’s how to get the best exchange rate in the following situations:
Read more on how to get the best exchange rate in our guide that explains each category in greater detail.
Before sending your US dollars abroad, compare your options and make sure you’re getting the best deal for your transfer. Use our table to compare the rates of many money transfer providers by entering the amount you want to send, selecting the destination currency and clicking Calculate.
If you’re traveling abroad or doing business with foreign companies, the exchange rate can affect your overall finances. Get the best exchange rate by comparing multiple payment methods and using the one that suits your need, depending on your situation.
Understanding your money sending options can help you send the most money abroad while the dollar struggles.
Paysend offers transfers to more than 70 countries through its app and online service.
Sending a large money transfer to Hong Kong? Learn about laws and required documentation before you transfer.
Manage your international finances with free transfers to HSBC customers.
Features and fees to consider before you open an account with this trading platform.
This Chinese ride-hailing platform plans to premiere on the Hong Kong Stock Exchange. Here’s how US investors can prepare.
This digital checking account teaches your teen healthy money habits through interactive quizzes and an intuitive mobile app.
Use this crypto-enabled prepaid card to spend, save or exchange in digital and traditional currencies.
Using international money orders to send money overseas? Learn about better options.
These countries are welcoming remote workers from the US.