EUR to USD: Currency Conversion Calculator

Last updated on September 7, 2023

☞ Currency conversion calculator

Check the global currency rates on this page. The currency conversion calculator below is user-friendly and the rates are regularly updated, which is crucial due to the recent high fluctuations in international currencies.

☞ EUR/USD live chart

If you’re going to visit the United States soon, you might consider exchanging some of your money for U.S. dollars (USD), the official currency. People also commonly refer to the U.S. dollar as a “buck.”

This article provides all the info you need about changing euros to U.S. dollars. It covers where to find the best exchange rates and how to prevent steep conversion fees.

☞ How to convert Euros to US dollars

You can easily convert euros to U.S. dollars using two methods: a currency calculator or manual calculation.

1. Currency Calculator Method: Using a currency conversion calculator is the simplest way to estimate your currency conversion accurately. Since exchange rates change daily, this method ensures precision in your calculations.

Keep in mind, though, that currency conversion often involves additional fees that calculators can’t predict. Credit card companies and ATM networks commonly add a 1% conversion fee to foreign transactions. Some merchants might also charge extra if you request currency conversion during checkout.

2. Manual Calculation Method: Alternatively, you can manually calculate the conversion using a basic formula. For this, you’ll need the current exchange rate. As of now, €1 EUR equals $0.99 USD.

With this information, multiply your euro amount by the current rate to get the equivalent in U.S. dollars. This value represents your spending amount for your U.S. trip.

Example of Manual Conversion: Suppose you have €1,000 EUR and want to know the U.S. dollar equivalent for your trip. Using the current exchange rate, the calculation would be:

€1,000 EUR x 0.99 = $999 USD

☞ How to buy USD with minimal fees

When you’re ready to buy USD, it’s wise to plan ahead to keep fees to a minimum. Here are three strategies to obtain the currency you need while reducing charges:

1. Exchange at a bank or credit union before your trip: Visiting your bank before your journey is often the most cost-effective method for currency exchange. Due to your existing relationship, your bank is likely to offer favorable exchange rates and lower fees. For instance, Germany’s Norddeutsche Landesbank charges a fee equal to 2% of the payment amount.
2. Use your bank’s foreign ATMs for withdrawals when feasible: Similarly, if you require more funds during your trip, seek out an ATM within your bank’s network. For example, Spain’s Banco Santander operates branches in the United States as well. Most banking apps feature an “ATM locator” function to help you find nearby options, and using affiliated ATMs can help you evade excessive fees.
3. Order currency online: In case your bank doesn’t offer online currency services, you can opt for a third-party service to have currency delivered to your location. However, be cautious about potential additional expenses with certain providers. For instance, Ireland’s No. 1 Currency Exchange promotes no exchange fee, but shipping costs €9.95 for orders under €750.

☞ 11 Things to avoid when exchanging EUR

Avoid these mistakes when exchanging currency:

1. Airport Currency Exchange: Although airport kiosks are convenient, they usually provide unfavorable exchange rates and tack on substantial fees.
2. Dynamic Currency Conversion (DCC): When using credit cards abroad, be cautious of DCC offers. These give you the option to pay in your home currency instead of the local currency. While it might seem convenient, the exchange rate applied is often much worse than what your bank would provide.
3. Exchanging Small Amounts Frequently: Frequent small exchanges can accumulate higher fees compared to exchanging larger sums less frequently. Opt for fewer, larger transactions to minimize overall costs.
4. Using Non-Bank Exchange Kiosks: Independent exchange kiosks outside of banks might offer tempting rates, but they can sometimes be unreliable or charge hidden fees. Stick to established financial institutions for secure and transparent transactions.
5. Paying with Your Home Currency Abroad: When given the choice to pay in your home currency instead of the local one (called “dynamic currency conversion” or DCC), decline. The exchange rates applied in this case are often unfavorable.
6. Not Checking Conversion Fees: Some banks and credit cards impose foreign transaction fees that can add up. Prior to traveling, inquire about these fees and consider getting a card with no foreign transaction fees.
7. Ignoring Mid-Market Rates: When you search for exchange rates online, you might come across the term “mid-market rate.” This is the real exchange rate without any markup. Compare other rates to this benchmark to determine how favorable they are.
8. Exchanging at Hotels: Hotel exchange services might seem convenient, but they generally offer less competitive rates compared to banks or dedicated exchange locations.
9. Getting Excessively Large Denominations: Opt for a mix of small and large denominations when receiving local currency. This ensures you have money for various types of expenses and avoids the inconvenience of finding change for large bills.
10. Not Keeping Track of Exchange Rates: Stay informed about exchange rate trends before your trip. Sudden fluctuations can impact your budget, so having a general understanding can be helpful.
11. Exchanging Too Much: Avoid converting too much currency in advance. It’s better to have a bit left over and exchange it back at a fair rate than to be stuck with excess foreign currency.

☞ 12 Important things to consider when buying (or selling) USD

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