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Market Exchange Rates Table

The exchange rates below are based on the Mar. 17, 2026, exchange rate from openexchangerates.org. *Numbers in parentheses are the inverse.

Major Currencies Cross-Table

Important Key Terms (Forex)

Below is a short list of some of the important terms pertinent to foreign currency exchange.

• Exchange Rate: The value of one currency expressed in terms of another.
• Forex: The foreign exchange market (Forex) is a global, decentralized, over-the-counter market for the trading of currencies and is the largest market in the world.
• Bid Price: The price that a buyer is willing to pay for a unit of currency.
• Ask Price: The price that a seller is willing to accept for a unit of currency.
• Bid-Ask Spread: The difference between the bid and ask price. Real-world currency exchanges with brokers, banks, or businesses typically do not follow precise market rates; they set their own bid-ask spreads that return a percentage as profit for doing business.
• Pip: A pip is the smallest unit of value in a bid-ask spread. For example, 3 pips are the difference between the currency quote of EUR/USD 1.2800 and 1.2803.
• Currency Pair: A quote of the relative value of one currency unit against another. The first currency in a currency pair is called the base currency, while the second is called the quote currency.
• Interbank Rate: This is the wholesale exchange rate that banks use between themselves.

What is Currency?

Currency is a universal medium of exchange for goods and services in an economy, believed to have been used dating back at least 3,000 years. Before this, bartering (the exchange of goods and services without the use of money) was likely used.

Throughout history, currency has taken many forms, including barley, gold, silver, squirrel pelts, 8-ton carved limestone rocks, salt, cowrie shells, tea bricks, and cheese. The first "official" currency was minted in the seventh century BC by King Alyattes of Lydia in modern-day Turkey. For practical reasons, Lydian currency took the form of a round coin, which became the first ever standardized unit of currency. Paper currency was invented in Asia and brought to Europe by Marco Polo.

Modern Currency & Cryptocurrencies

Modern major currencies take the physical form of paper bills or coins, but most currency today is stored in digital accounts. The value of these currencies is backed by the promise of their issuing governments, making them fiat money (currency declared by the government to be an official medium of payment but not backed by a physical commodity like gold).

Cryptocurrencies are digital currencies operating independently of a central bank or authority, where encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. The technology behind cryptocurrencies is called blockchain, a decentralized ledger of all transactions across a peer-to-peer network.

Factors that Influence Exchange Rates

In the real world, exchange rates can be influenced by thousands of different factors. The following are a few of the primary drivers:

• Differences in inflation: The currency of an economy with low inflation rates will generally see a rise in currency value as purchasing power increases relative to higher-inflation countries.
• Differences in interest rates: Higher interest rates offer lenders in an economy a higher return relative to other countries, attracting foreign capital and causing the exchange rate to rise.
• Trade Deficits: If an economy is spending more than it is earning through foreign trade, it requires more foreign currency than it receives, supplying more of its own currency than foreigners demand for its products, which lowers the exchange rate.
• Politics & Economic Performance: Economies with stable politics and strong growth generally make better foreign investments. An influx of capital into a certain economy will increase the buying power of that economy's currency.

Tips for Traveling Overseas

Whether exchange rates are better abroad or domestically depends a lot on the destination, but generally, it is better to exchange domestically before traveling. There are fewer time constraints, and it removes the possibility of encountering difficulties exchanging money in an unfamiliar region where you may not speak the language.

In the U.S., some banks and credit unions provide exchange services that normally provide better exchange rates and lower fees than other methods. International airports normally have kiosks for currency exchange, but they are convenient traps that usually have the worst exchange rates and highest fees.

Destinations that are credit card friendly make it easier for foreigners, as they don't have to fumble over large amounts of foreign cash or pay large commissions, since credit card exchange rates tend to be very close to wholesale market rates. However, ensure your card does not charge high foreign transaction fees.