Edmund Optics

Most trading happens in the UK and US market, so 8am GMT to 5pm EST, is when the market is most liquid and the difference between the bid and ask rates is minimal. Once you operate outside these hours, you can’t cover your deal with large institutions and have to pay the rate as an insurance against fluctuations from the time you book to offsetting with a partner.

Also known as the mid-market rate, the spot rate or the real exchange rate, the interbank rate is the exchange rate used by banks and large institutions when trading large volumes of foreign currency with one another. It is not made for individuals and smaller businesses, as smaller money transfers tend to attract a higher mark-up, so that the exchange offering the service can make a profit.

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To use OANDA’s free currency converter, type into the relevant field currency names, 3-letter ISO currency symbols, or country names to select your currency. You can convert world currencies, precious metals, or obsolete currencies. You can also access currency exchange rates dating back to January 1990.

Opticalprism

Currency conversion rates differ between companies as each company manipulates the interbank rate to make a profit. This is usually done on volume; the higher the volume, the closer you get to the interbank rate. We come across a lot of competitors that post interbank rates online as a bait to hook new customers, but, once customers are onboard, they change the rate drastically, not usually in the customers’ favour.

We have direct access to real-time FX rates, so you can be assured that the data we provide is always accurate and reliable.

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We have partnered with Shift to offer you a money conversion service. Our global money transfers are tailored to meet your FX payments needs.

We are currently supporting 9 languages: English, French, German, Spanish, Italian, Portuguese, Russian, Chinese, Japanese.

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OANDA's currency calculator tools use OANDA Rates™, the touchstone FX rates compiled from leading market data contributors.

OANDA’s Currency Converter allows you to check the latest foreign exchange average bid/ask rates and convert all major world currencies. OANDA Rates™ are foreign exchange rates compiled from leading market data contributors.

We have over 31 years of historical data for over 38,000 forex pairs and rates from over 200 currencies, commodities, and precious metals.