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The foreign exchange market is a global decentralized network where trillions of dollars change hands daily. It's the largest and most liquid financial market in the world, operating 24 hours a day, five days a week.
Each currency tells a unique story of its nation's economic health, political stability, and global influence. From the mighty US Dollar to the emerging market currencies, these financial instruments shape international trade, investment flows, and the daily lives of billions.
Track currency strength and weakness across major pairs. Green indicates appreciation while red shows depreciation. The percentage change is measured from 5 PM IST yesterday to now.
Get answers to common questions about currency exchange and trading
Exchange rates are influenced by multiple factors including interest rates, inflation, political stability, economic performance, government debt, and terms of trade. Central bank decisions and geopolitical events can also have significant impacts on currency values.
The spread is the difference between the buying (ask) and selling (bid) price of a currency pair. It represents the cost of trading and is how many brokers make their money. Typically, more liquid currency pairs have lower spreads.
The forex market is open 24 hours a day, five days a week. Trading begins in Sydney, then moves to Tokyo, London, and New York. The most active trading periods are when multiple major markets overlap.
Leverage allows traders to control a large position with a small amount of capital. For example, 50:1 leverage means you can control $50,000 with $1,000. While leverage can amplify profits, it also increases potential losses.
Currency pairs show how much of the quote currency (second currency) is needed to purchase one unit of the base currency (first currency). For example, in EUR/USD, EUR is the base currency and USD is the quote currency.
Technical analysis involves studying price charts and using statistical indicators to determine future currency movements. Common tools include moving averages, relative strength index (RSI), and Fibonacci retracements.