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How to Calculate Exchange Rate?
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How-to guide
How to Calculate Exchange Rate?
9 steps
3 min read
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01/ 09
Identify the base currency and the target currency
02/ 09
Find the current exchange rate between the two currencies
03/ 09
Multiply the amount in the base currency by the exchange rate to get the target currency amount
04/ 09
Divide the amount in the target currency by the exchange rate to get the base currency amount
05/ 09
Use the formula: converted amount = original amount × exchange rate
06/ 09
Use the reverse formula: original amount = converted amount ÷ exchange rate
07/ 09
Check whether the exchange rate is quoted as direct or indirect
08/ 09
Include any fees, commissions, or spreads if needed
09/ 09
Verify the rate from a reliable source before calculating
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