All about Currency Converters
There are various different currencies used all over the world. People need to convert currencies while travelling, while doing business or in forex. They will need to take help of currency converter. In forex trading, however, a handful of these currencies are traded. Only powerful and economically stable currencies are most sought after here, for example, US dollar, Canadian dollar, British pound, euro, just to name a few.
What is a currency converter?
It is actually a calculator that changes the value of one currency into the relative value of the other currency. For instance, if you want to know the value of one dollar that you want to use in some other country you are traveling to, you would need a currency converter to know the right value of your money. If you were traveling to Europe, you would need to convert your dollar to pound or if you were in Japan, you will need to calculate its value in Yen.
A currency converter should store the most recent market valuations of all the currencies in the world as the value of these currencies keep fluctuating on a daily basis. The demand of dealing prices between international banks is the factor behind the constant change in the value of these currencies. Therefore an international currency converter is a must to have for people trading in forex or making frequent trips abroad or doing business internationally.
Features of a good currency converter
- A user friendly interface
- A designated keypad
- Once screen for all key functionalities
- Supports large number of currencies
- Shows the current exchange
- Automatically updates the Exchange rates
- Automatic settings for user currency and number formatting
A couple of the most popular currency converters
Universal Currency Converter
This is the world's most popular currency converter tool. Allowing one to calculate currency exchange for the top 85 currencies, you can get the real time rates of currencies.
Full Universal Currency Converter
With over 180 currencies, calculate live currency and foreign exchange rates with ease. This expanded version of the universal converter covers special units & precious metals too.
Credit Card Charges Calculator
This currency converter is very handy when using your credit card abroad. Use this tool to know of any charge "hidden" charges your credit card company might be charging when you claim your travel expenses.
Foreign Exchange Charges Calculator
This currency converter is simply great for forex traders and when you use travelers' checks or pay for foreign cash. You can put the transaction details and all details of the estimated charges for the foreign exchange conversion and processing the transaction will be displayed.
Personal Currency Assistant
This is Web shopper's best friend. Use PCA for price conversions. Calculate you expenses instantly while shopping online.
The Travel Expenses Calculator
This is a more basic adaptation of the New Travel Expenses Calculator. Work out your exact travel expenses by using the right historical exchange rates and accounting for hidden foreign exchange charges.