Currency Exchange Rates Calculator

A currency exchange rates calculator is a must. If you are looking to make any money in the foreign exchange market then you must use some kind of currency converter. These precious tools will help you make sense of how much money you need to invest in buying one currency or the other and if that price is right for your pocket.

The notion itself of a currency calculator is pretty simple. You choose the foreign currency you wish to convert and the foreign currency you are converting to. This option is given in most currency exchange rates calculators to most of the world's currencies, so there's no need to worry about not finding your own country's currency ticker.

So if I am looking to exchange 14 Dollars into Euros, I would look for the Dollar ticker which is - USD - and choose the option to exchange that money into the Euro ticker which is - EUR -. I would also enter the units, or amount of money I wish to convert and hit enter. The money converter calculator will do the rest.

Exchange Rates Calculator Used for Metals!

Some tools allow you to use your exchange rate calculator to determine the exchange rate of metals. That is to say that you can calculate how much one ounce of platinum will cost you in Euros.

Here's a for instance:
1.00 XPT     =     1,344.63 EUR
Platinum Ounces     Euro
1XPT=1,344.63 EUR    1 EUR=0.000743697

So basically you can type into your currency exchange rates calculator the amount of ounces of platinum you wish to convert into any foreign currency and see how much it will cost you to buy that much platinum, or gold or most any other precious metal.

Why is a Foreign Exchange Rates Calculator so Important?

Foreign currency rates are determined by currency pairs. This means that no currency has a price on its own. The price of one currency is determined according to the price it would take for another currency to purchase 1 unit of it. That is why when we are looking to buy Dollars we will do it by using a different currency like the Euro (for instance).

Because a foreign currency's price is set upon pairs the importance of real-time currency calculators is paramount.

What is real-time currency calculators?

A real-time currency calculator is an exchange rate calculator that updates its rates a few times each minute. You may ask yourself "doesn't the price stay the same, at least for the day?", well, the answer is no, it does not.

Because the price of a currency is determined according to currency pairs, constant trades of buying and selling between two currencies are always being made which shift the value of the currency pair up and down constantly each second.

Here's an example - if I wanted to buy 1 USD using the EUR currency I would input that amount into a currency exchange rates calculator and would get that - 1 EUR = 1.35740 USD. When I make that purchase I would affect the price of future trades of the Dollar because I showed interest in it. That is exactly why the currency rates always change = because traders and markets and economies show less or more interest in them constantly.

In conclusion, currency calculators are a nifty and handy tool to have around. You are welcome to use the Yahoo Finance tool at the sidebar of this page to run some tests of your own and see how it feels.

Currency Exchange - By Trey

Currency exchange is a day to day dilemma. Foreign exchange rates change their values on a daily basis and that is why you need to stay constantly updated. In this blog I will try and see which tools, platforms and news sites can give you that much needed edge whether you are a forex trader, a foreign import or export merchant or just a traveler wishing to save on currency exchange on your coming trip.

Exchage Currency Wisely
There is no end to the number of currency exchange calculators out there. Most of which are good but are in some way or other conected to a forex trading site which will include commission spreads on top of the basic currency converter function. For a reliable basic and simple currency converting tool see the widget I attached here on the right side of the site.

Additional considerations when looking to choose which currency exchange tool is right for you should be:

• Is the site I'm on a reliable source of info?
• Where is the currency rates taken from?
• Does the site offer a way to exchange currency online?

By finding out the answers to these questions a person wishing to convert money from one currency to another can learn if the service offered, which is usually free, is reliable or not.

My endeavor is to supply readers with constant current information about the best ways in which they can exchange currency in today's world. I will be updating this blog with my suggestions on how and where to make your transactions and get your news. For more keep reading my currency exchange blog everyday.

Trey Navaro.