Exchange Rates FAQ

The main rate on our site is the indicative mid-market rate. This is the midpoint between wholesale buy and sell prices in the foreign-exchange market. It is a benchmark, not usually the final rate a consumer receives.

During market hours, our primary data can refresh as often as every 60 seconds. Outside market hours - especially over most of the weekend - you may see the last available market close rather than a new live quote.

Usually not. Banks, card networks, brokers, and money-transfer services typically add a spread, a fee, or both. For a real transaction, the number that matters is the final amount you receive after all charges.

It means a reference rate for information and comparison. It is not a binding offer to exchange money at that exact number.

The mid-market rate is the wholesale benchmark. The retail rate is the rate a consumer is offered by a bank, card, or transfer provider. An official or reference rate is published by a central bank or official body and may be used for reporting, accounting, or policy purposes. It is not always the rate you can actually trade at.

The main wholesale foreign-exchange market is largely closed over the weekend. Most public converters therefore show the last available market close until trading reopens. A provider may still offer you a weekend conversion rate, but that often includes extra margin.

This happens. Some countries have official rates, bank rates, card rates, and parallel-market rates. A public converter usually shows the official, interbank, or reference rate - not every real-world rate a person may face on the ground. In those cases, one number can be useful, but it is not the whole story.

Our primary source for live and historical exchange-rate data is TwelveData. For broader fiat coverage, we also use Open Exchange Rates, which provides hourly rates for 170+ currencies. We use European Central Bank reference rates as an additional reference source, and Bank for International Settlements survey data for market context. If a direct rate is temporarily unavailable, we may calculate a cross-rate through a major currency such as USD or EUR.

We cover 200+ currencies including fiat currencies, precious metals (gold, silver, platinum, palladium), and major cryptocurrencies. Not every pair is directly traded in deep markets - some are derived through a major currency like USD or EUR, and we label those clearly.

Yes. The converter, charts, pair pages, glossary, rate alerts, and daily digests are all free. We may earn referral fees when you visit some providers through our affiliate links. You pay nothing extra. Learn more about how we make money.

As benchmarks, yes - but only if the site is transparent. Before relying on any converter, check these five things that most sites hide or omit:

1. Data source - Who provides the rate? (We name ours: TwelveData, Open Exchange Rates, ECB.)
2. Last updated - When was this rate fetched? A "live" label means nothing without a timestamp.
3. Rate type - Is it a mid-market rate or a retail rate with markup baked in? Most converters don't say.
4. Market status - Is forex open right now, or are you seeing Friday's close on a Sunday?
5. What's excluded - Does the rate include bank fees, card surcharges, or transfer costs? (Ours doesn't - and we say so.)

If a converter doesn't tell you these basics, treat it as a rough guide, not gospel. Read our full methodology to see how we handle each of these.

Small differences can happen because of different data sources, slightly different timestamps, rounding, or cross-rate calculations. Bigger differences usually mean you are comparing a benchmark rate with a retail quote.

No - we don't handle money or process transactions. ExchangeRates.com is an information and comparison service. We show the mid-market rate and compare what providers like Wise, Revolut, and OFX would charge, so you can make an informed choice. Where we have commercial relationships with providers, we disclose them clearly.

Rate alerts let you set a target exchange rate for any currency pair. When the rate crosses your threshold, we notify you by email or Telegram. Just enter your email address and verify it - then you can manage all your alerts from the alert panel on any pair page.

A daily digest sends you one email each morning with a rate summary for your chosen currency pairs. It shows the current rate and how it has changed. You can subscribe from any pair page and cancel at any time.

Yes. Our Telegram bot gives you live rates, conversions, alerts, and daily digests directly in Telegram. Just open @ExchangeRatesComBot and send /help to get started.

Use the alert management panel on any pair page. You can pause, resume, or cancel individual alerts. If you want to permanently remove all your data, use the self-service deletion option - it erases your email, all alert settings, and all associated data from our system.

Because it is usually showing a retail rate, not the mid-market rate. Retail rates often include a spread. They may also include fixed fees, weekend markups, or different prices depending on the amount, funding method, destination, or payout method.

Compare the final amount received - not just the headline fee or exchange rate. A low advertised fee can still be a bad deal if the rate itself is poor. For a fair comparison, use the same amount, the same source and destination countries, the same payment and payout methods, and the same moment in time.

Sometimes it truly means no separate fee. Just as often, it means the cost is hidden in the exchange rate. A "fee-free" transfer can still be expensive if the provider uses a wide spread.

Sometimes as a reference, but not always as the required source. For formal accounting, tax, or contract use, follow the source and method required by your accountant, auditor, counterparty, or local authority.

Tell us. The most useful report includes the currency pair, the time you saw it, a screenshot if possible, and what looked wrong. Rates move fast, but broken data should still be fixed fast.

ExchangeRates.com may make money from advertising, partnerships, or referrals. That does not change the benchmark rates we publish. If a commercial relationship affects placement in a comparison, we say so clearly. More about our transparency standard.