Currency Converter
Convert global currencies with real-time official European Central Bank reference exchange rates via the free Frankfurter API.
How It Works & Methodology
Foreign exchange reference rates are published daily by the European Central Bank (ECB) at approximately 16:00 CET on working days. This tool directly queries the open Frankfurter reference API to convert amounts at official reference rates.
Key Assumptions & Scope:
- Rates represent ECB daily middle market reference rates, not consumer retail bank or credit card rates.
- Weekend and holiday conversions use the most recently published business day closing rate.
- Zero retail markups, spread fees, or wire commission fees are deducted.
Frequently Asked Questions
Where do these currency exchange rates come from?
Rates are sourced directly from the European Central Bank (ECB) via the free, open-source Frankfurter reference rate API.
Why does my bank quote a slightly different exchange rate?
The ECB publishes wholesale interbank reference mid-rates. Commercial retail banks, remittance providers, and card networks add a retail spread (typically 1% to 3.5%) to cover foreign transaction overhead.
How often are reference rates refreshed?
The European Central Bank updates reference rates once every business day at roughly 16:00 Central European Time (CET). Weekends and European holidays keep the latest published rate.