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The quickest built-in method is Excel’s Currencies linked data type: enter a pair such as USD/EUR, choose Data > Data Types > Currencies, insert the Price field, and use Data > Refresh All when you need a newer quote.
This feature is documented for eligible Microsoft 365 accounts, including Excel for Microsoft 365 and Excel for Microsoft 365 for Mac. The quote may be delayed and is not necessarily the rate your bank, card issuer, or accounting system will use. Microsoft’s documentation also says the information is provided as-is and should not be used for trading or financial advice.
The easiest method: Excel’s Currencies data type
Use ISO currency codes rather than symbols, because symbols such as $ can represent several currencies. Examples include:
USD/EUREUR/GBPGBP/JPYCAD/USDINR:AUD
Microsoft supports currency pairs separated by either / or :. The first currency is the base currency and the second is the currency in which the rate is expressed. Therefore, USD/EUR means how many euros one U.S. dollar buys.
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Step-by-step
- Enter a currency pair such as
USD/EURin a cell, for exampleA2. - Select the cell or range.
- Open the Data tab and choose Currencies in the data-types area. Depending on the interface, this may appear under Data Types.
- Wait for Excel to convert the text into a linked data type. A data-type icon should appear in the cell.
- Select the converted cell and click Insert Data.
- Choose Price to add the exchange rate to a normal worksheet cell.
- Also insert Last Trade Time if you need to know when the displayed quote was recorded.
Microsoft’s linked-data documentation identifies the Currencies data type as exchange-rate information powered by Bing. Open the data-type card to review the available fields and source information.
See Microsoft’s full currency-rate instructions.
Convert an amount with the extracted rate
A simple worksheet can look like this:
| Currency pair | Amount | Rate | Rate timestamp | Converted amount |
|---|---|---|---|---|
USD/EUR |
100 | Price field | Last Trade Time | =B2*C2 |
If B2 contains the amount in U.S. dollars and C2 contains the extracted USD/EUR price, enter:
=B2*C2The result is the euro value of the dollar amount at the displayed quote. Using an Excel Table is not required, but it can make it easier to add linked-data fields across multiple rows.
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Pay attention to direction
USD/EUR and EUR/USD are reciprocal rates. If your rate is USD/EUR but you need to convert euros into dollars, either enter the reverse pair, EUR/USD, or calculate:
=1/RateUsing the reverse pair is usually clearer and reduces the risk of applying a rate in the wrong direction.
Refresh the exchange rate
To request an updated quote, use:
Data > Refresh All
For a useful audit trail, display both Price and Last Trade Time. In a controlled workbook, also record the date and time when you refreshed the workbook, the pair, and the source shown in Excel’s data card.
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Refreshable does not mean guaranteed real-time. Microsoft warns that currency information may be delayed. The value is best described as the latest available quote returned by Excel’s linked-data provider, not a guaranteed executable market, bank, or card rate.
What to do if Excel shows a question mark
A question-mark icon generally means Excel could not match the text to a currency pair. Try these steps:
- Check that both entries are valid ISO currency codes.
- Use a format such as
USD/EUR; if necessary, tryUSD:EUR. - Select the question-mark cell.
- Use the Data Selector to search for and choose the correct currency pair.
- Press Enter, then retry the Currencies conversion.
If the Currencies option is missing entirely, your Excel edition, Microsoft 365 account, organizational tenant, or regional feature availability may not support linked data types. Microsoft’s specific currency-rate guidance applies to Excel for Microsoft 365 and Excel for Microsoft 365 for Mac, and notes availability for Microsoft 365 accounts serving worldwide multi-tenant clients. Do not assume that Excel 2019, 2021, or 2024 perpetual editions include this feature.
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Is the Excel rate truly live?
Not necessarily. “Latest” can mean several different things:
- The latest quote available from Excel’s data provider.
- A delayed market quote.
- A daily reference rate or central-bank fixing.
- A bank’s customer rate, which may include a spread.
- A card network’s settlement rate.
- A rate after fees, cash markups, or transfer charges.
The Excel value may differ from the amount that appears on a bank statement or card transaction because of issuer spreads, fees, settlement timing, weekend or holiday pricing, and different rate conventions. It is also not automatically the correct rate for an invoice, tax return, payroll calculation, or month-end close.
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When the built-in method is not the right one
Use Power Query for a repeatable, source-controlled import
Power Query is more suitable when you need a structured table, several currency pairs, repeatable refreshes, or a documented external source. For example, Frankfurter’s Excel instructions describe importing rates through Power Query and specifying a provider in the request, including an example using ECB data.
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Frankfurter is an external service, not Microsoft’s built-in provider. Check its current availability, terms, limits, and methodology before using it in a production workbook. For accounting or tax work, use the source required by your organization, contract, regulator, or jurisdiction.
Use WEBSERVICE only as a limited Windows fallback
Frankfurter also documents a Windows-only formula approach using WEBSERVICE, TEXTAFTER, and TEXTBEFORE to extract a JSON value. This can work for a one-off workbook, but it is less maintainable than loading structured data through Power Query. Endpoint or response-format changes can break the formula, and it is not a strong default for controlled accounting files.
Use an approved or commercial source for business systems
If a company needs a specific official fixing, historical series, licensed data, frequent updates, or integration with software, the workbook should use the organization’s approved FX source rather than whichever quote is easiest to retrieve. A commercial provider such as OANDA’s Exchange Rates API may be relevant for treasury systems, software products, or high-volume applications, but is excessive for a personal budget. Pricing and availability vary and should be checked on the provider’s current site.
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Which Excel exchange-rate method should you choose?
| Need | Best fit |
|---|---|
| One quick conversion | Currencies data type |
| Personal budget or travel sheet | Currencies data type with Price and Last Trade Time |
| Repeatable multi-pair import | Power Query with a named source |
| Rate for a specific past date | A historical-rate source with a preserved retrieval date |
| Tax, payroll, or statutory reporting | The official or institutional source required by policy or jurisdiction |
| Automated, high-frequency application | A suitable licensed FX API |
Why STOCKHISTORY is usually not the answer
STOCKHISTORY is intended for historical financial-instrument data, with arguments for dates, intervals, and historical values such as open, high, low, and close. It is not the straightforward choice for pulling the current quote for a currency pair.
Use the Currencies data type for a current available currency quote. Use STOCKHISTORY only when its supported instrument and historical-data behavior match the job.
Quick Recap
Important limitations
- Historical conversions: The current Currencies data type is not automatically a complete historical-rate database. Preserve or obtain the rate for the relevant date.
- Month-end accounting: The latest quote may not be the required closing rate, monthly average, transaction-date rate, or central-bank fixing.
- Offline files: New or refreshed linked values require access to the online data source. Save the captured rate and timestamp if the workbook must work offline.
- Symbols and locales: ISO codes such as USD, EUR, and GBP are less ambiguous than currency symbols. Spreadsheet separators and date display may still vary with regional settings.
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