How to Figure Out Money Exchange Rates

by Alia Nikolakopulos, studioD

Money exchange rates are continually changing in much the same way that stock prices fluctuate. Economic conditions affect the strength of the US dollar and other global currencies. The most accurate way to determine money exchange rates is to enter your particulars into a database containing current or historical exchange rate information. You can use this method for online purchases as well as travel and investment purposes.

Determine the type of currency you wish to buy or sell.

Navigate to a currency exchange rate website such as MSN Money, Oanda or and locate the currency exchange converter. These tools use real-time exchange rates to calculate the value of the exchange you wish to perform.

Enter the type of currency you wish to convert into the calculator.

Enter the type of currency that you want to receive in exchange. The converter displays the exchange rate for your money. Results for buy and sell exchanges are shown. Some converter websites also display historical exchange rates.

About the Author

With a background in taxation and financial consulting, Alia Nikolakopulos has over a decade of experience resolving tax and finance issues. She is an IRS Enrolled Agent and has been a writer for these topics since 2010. Nikolakopulos is pursuing Bachelor of Science in accounting at the Metropolitan State University of Denver.

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