Un currency converter It ends up being a very useful tool for any type of person, since it allows us to know exactly the real value of one currency compared to another. Below we will see what they are for, and for what type of issues it is advisable to use them. In addition, we will detail the most reliable ones on the Internet.
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What is a currency converter?
The answer to this is very simple, A currency converter is software responsible for converting the value of one currency into that of another currency.
At tecnologia.net we have this type of converter that is a calculator to know paypal commissions in euros and another to know the paypal commissions in dollars.
How do currency converters work?
Un currency converter It is very easy to use, since all you have to do is enter the amount of what you are interested in, get the calculation, select the currency you want change and select currency for which you want to change.
Once this is done, the program will show us the exact amount of how much the money is worth in the currency that we are interested in knowing at that moment. A clear example of this is converting 1.000 euros to dollars, in this calculation 1 euro is equivalent to 1,114294 dollars to be exact, so 1.000 euros would be 1.1142,94 dollars.
It turns out that it is quite simple mathematics, but what defines which currency converter is better than another is the one that has the most up-to-date rates.
What is a currency converter for?
These converters When providing information on the price of currencies, they have a somewhat underestimated importance.
Now, it is important to know that when you want to change from one currency to another in an exchange office or a bank, the value of this may vary. This is because these entities place the price of the currency they want to access in the final operation a little more expensive, since this excess is a percentage commission that the agent charges for carrying out the currency exchange operation.
The currency converter helps us:
- Calculate the value of a product or service in another currency.
- Accounting and billing.
- Prepare financial reports and plans.
These converters Currency exchange rates are generally used to calculate the “relative” value of a currency at the time of making an exchange. This tool ends up being very important for travelers, because with them they will be able to know the real value of your currency in another country at the time of making the change.
On the other hand, the value of a currency can fluctuate in a very short time, and there are some values that affect its price such as:
- Policies related to Central bank.
- Value of a country's important exports.
- Relative inflation with that of other countries.
- Political stability of the country.
- Public debts and other countries.
- Natural disasters.
- Fluctuations in inflation rates.
This tool also serves to the person has a more current knowledge of the currency. For example, in the case of a merchant, he can wait for the price of the product to fall and then sell it at a higher rate. On the other hand, the traveler will be able to choose the best time to change your money.
The best currency converters
Below we will give you a list of the best currency converters that you can use. In our tests we have verified that these are the most accurate on the entire network.
- OANDA
- MSN Money
- Money Banker
- Currency-Converter
- CUEX
- My Currency Transfer
- Free Currency Rates
- The Money Converter
- calculator.net
- Reuters
- Investing.com
- CNN Business
- Currency-calc
- XE
- Convert My Money
- TransferWise
When choosing some currency converter From this list you will see that they are very exact, and that they have a huge list of currencies through which you can perform the calculation without any problem.
These programs have millions of users who frequent them very regularly, and some of them also have applications for Smartphones.
