International Currency Converter

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DEFINITION of 'International Currency Converter'

An electronic program that allows for the quick conversion of currencies. An international currency converter can convert the value of one currency to another, such as dollars to euros. Converters will typically use the most recent market prices in the foreign exchange market.

BREAKING DOWN 'International Currency Converter'

Currency converters are usually free of charge when found online, and are useful when determining how much of your home currency (base currency) you will need to exchange when traveling to a foreign country.

For example, if a U.S. resident travels to England, he or she will need to exchange U.S. dollars for Great Britain pounds. An online currency converter could be used to determine how much base currency would be required to buy a predetermined about of the foreign currency.

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RELATED FAQS
  1. How do I convert dollars to pounds, euros to yen, or francs to dollars, etc.?

    Currency can be converted using an online currency exchange or it can be converted manually. To use either method, you must ... Read Full Answer >>
  2. What is the difference between trading currency futures and spot FX?

    The forex market is a very large market with many different features, advantages and pitfalls. Forex investors may engage ... Read Full Answer >>
  3. Why do forex traders use a currency converter?

    All currencies are quoted in pairs - one country's currency against another country's currency. A currency converter is used ... Read Full Answer >>
  4. What is a currency converter and how do I use one?

    A currency converter is a calculator that converts the value or quantity of one currency into the relative values or quantities ... Read Full Answer >>
  5. What are the goals of covered interest arbitrage?

    The goals of covered interest arbitrage include enabling investors to trade volatile currency pairs without risk as well ... Read Full Answer >>
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    The term pip is an acronym for percentage in point or price interest point. It measures a unit of change within a pair of ... Read Full Answer >>

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