How Exchange Rates Work
A currency exchange rate tells you how much of one currency you need to buy one unit of another. For example, if USD/INR = 83.5, you need ₹83.50 to buy $1. Rates fluctuate continuously based on supply and demand in the global foreign exchange (forex) market — the world's largest financial market, trading over $7 trillion daily.
What is the Mid-Market Rate?
The mid-market rate (also called the interbank rate) is the midpoint between the buy and sell prices of a currency pair. It is the fairest exchange rate and the one used by our converter (sourced from the European Central Bank). Banks, currency exchange shops and payment providers add a spread on top of this rate as their profit margin.
⚠️ When exchanging money, the rate you receive from a bank or forex desk will always be worse than the mid-market rate shown here. Compare rates from multiple providers before exchanging large amounts.
Major Currency Pairs — Quick Reference
| Pair | Name | Reference Rate |
|---|---|---|
| USD/INR | US Dollar / Indian Rupee | ~₹83.50 |
| EUR/INR | Euro / Indian Rupee | ~₹90.50 |
| GBP/INR | British Pound / Indian Rupee | ~₹105.50 |
| AED/INR | UAE Dirham / Indian Rupee | ~₹22.73 |
| JPY/INR | Japanese Yen / Indian Rupee | ~₹0.56 |
* Reference rates for illustration only. Actual rates change continuously — use our live converter for current values.
Tips for Currency Exchange in India
- Avoid airport kiosks — These typically offer the worst rates, often 5–10% worse than the mid-market rate.
- Compare forex apps — Services like Wise, BookMyForex and bank forex cards often offer rates closer to mid-market.
- Use credit cards abroad carefully — Some cards charge 2–3.5% foreign transaction fees; travel-specific cards often waive these.
- Watch out for "no commission" traps — Providers that advertise zero commission often compensate with a worse exchange rate.
💱 Get live exchange rates — click convert for real-time data
Open Currency Converter →