Currency converter: What you need to know!

How to change currency efficiently?

If you need to send money abroad, consider using Mconvert. Banks and traditional services usually hide additional expenses by increasing the exchange rate that they apply to you. Mconvert.net always converts your money using the market average exchange rate, becoming up to 8 times cheaper than banks.

This currency converter allows you to know the value of the euro, the value of the dollar, the value of the pound sterling, the Mexican peso, the Argentine peso and many more.

How does the currency converter work?

To convert one currency into another, you must enter an amount of money (for example "1000") and choose the currency you want to change (for example "Euro"). Then select the currency in which you want to know the value of the other (for example “US Dollar”). The currency converter will calculate how much the amount put of the first currency is worth in prices of the second.

For example, if we have put 1,000 euros in dollars, it will tell us how many dollars are 1,000 euros. If the exchange rate is 1.05 dollars per euro, the final figure will be 1050, this means that 1000 euros equals 1050 dollars.

What is a currency converter?

A currency converter is software designed to convert the value of one currency into another currency, allowing to know the price of one currency with respect to another. Also known as a currency converter. In English it is currency converter.

Currency converters (like the one above) change the value of currencies based on current market rates.

What are currency converters for?

A currency converter offers real-time information on the current exchange rate of the market, so that the obtained result offers us the value of one currency with respect to another currency.

It provides the market value of the exchange rates, that is, the intermediate between the purchase and the sale. It is very important to take this into account, since when we go to change our currency to the bank or to an exchange agent, if we want to change currency A to currency B, they will offer us a higher exchange rate of the other currency (they make the price more expensive). price of the other currency) than if we want to do the opposite operation. The difference between the purchase and sale price is known as the differential or spread, which is the commission that the exchange agents take to change one currency to another.

The market value of currencies is very useful for:

• Estimate the value of goods or services in another currency

• Basic accounting and billing

• Preparation of financial plans and reports

Currency converters are often used as a means of checking the relative value of a currency before exchanging it in another currency. This is useful for the traveler because he can check the value of the foreign currency before exchanging his money.