International Currency Converter

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.