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Foriegn Currency Exchange Rate


Most popular foriegn currency exchange rate online tools include OANDA, XE, and X-Rates.

In terms of how many currencies are available for conversion, the sites OANDA and XE are about as good, with over 180 currencies available for conversion.

With XE, you can even include former currencies for conversion, such as the country currencies that the European Euro replaced.

For currency conversions for today's rates, the most popular tool is XE.com, which provides the rates from mid-market rates between interbank sell and buy rates.

In contrast, OANDA.com is popular for historical rates and for cash market and credit card forex exchange rates.

The credit card and cash market rates are in fact simply estimations from the interbank rates, with credit card rates having 2% premium over the interbank rate, and cash market having 4% premium.

Historical rates are often used by companies for simulation purposes and for accounting purposes when estimating the cost of purchase and foreign exchange effects and other financial estimations for accounting and bookkeeping.

The X-Rates website is a second tier portal for foreign exchange rates, and provides some good features over the more popular portals, as does Yahoo Finance's Currency section.


From foriegn currency exchange rate page to Forex Guide index