An exchange rate is the value of one currency against another. Indeed currency, by definition, has no absolute value, but a value relative to another currency. This is called currency pairs. Exchange rate or a currency trading fluctuates every moment on the Forex market based on supply and demand. It is expressed to four decimal places. The last digit is called a “pip” in the jargon of foreign exchange.
As an example to convert pounds to dollars for 1.5186 the GBP / USD the parity of the pound against the U.S. dollar; this means that 1 pound equals 1.5186 U.S. dollars at the time.
The exchange rates of different currencies are automatically refreshed every minute. If you want to trade currencies with the aim to achieve the trading, you also have access to online converter offering conversion of all currencies.
In some cases, the exchange rates are set by the state, which is the case of most underdeveloped countries or in the way of development; this is called the fixed rates. We can for example take the example of Yuan currency of China. However the major currencies, called major currencies are floating rates. They fluctuate depending on supply and demand in the global market Forex.
Currency converter at real time
Currency converter allows you to convert an amount from one currency to another, the current exchange rate (given with an accuracy of 4 decimal places and automatically updated every minute). You can use it to convert any amount in major global currencies: AUD, CAD, CHF, DKK, EUR, GBP, ILS, JPY, NOK, NZD, PLN, RUB, SEK, TRY, USD, and ZAR.
This tool enables you to perform currency conversions and offers at real-time all the foreign exchange rates updated every minute.
To start enter the amount to be converted in the box provided for this purpose. For decimal, you can use point or comma. Then select the currency to convert input and output currency through menus. Then you get the result of the conversion.
Originally posted 2016-04-01 03:03:48. Republished by Blog Post Promoter