View today’s foreign currency exchange rates below and sign up to our newsletter to stay up-to-date on the latest currency news, happy hours and offers.
Today’s exchange rates
We monitor market rates every day, to bring you great value on your travel money.
Whether you’re looking to convert your pounds to dollars, euros or any other currency, simply choose the currency you need below to see our rates of the day.
Exchange rates are influenced by banks and trading institutions and the volume of currency they are buying and selling at any given time. Currencies are traded (bought and sold) daily around the world.
One currency can be purchased by another currency through banking institutions or on the open market. The volumes of currencies traded are increased and decreaseddepending on the attractivenessof any particular currency, which depends on a multitude of factors such as political stability, economic strength, government debt and fiscal policy among others.
Governmentcentral banks also have the ability to set a currency at a constant price through a method called pegging, which essentially tethers the value of one currency to another. The value (or price) of a currency is determined by its traded volume. If a currency is competitively priced, traders will buy the currency, essentially driving up its value. If a currency is not competitively priced, traders may avoid buying, or even sell it, essentially driving down its value.
How to read exchange rates - currency jargon explained
Foreign exchange can be confusing, so to help break through the confusion, here are some common terms associated with currency:
Buy rate– This is the rate at which we buy foreign currency back from you into your local currency. For example, if you were returning from America, we would exchange your US dollars back into British pounds at the buy rate of the day.
Commission– This is a common fee that foreign exchange providers charge for exchanging one currency with another.
Cross rate– This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchangeAustralian dollarsintoUS dollars.
Currency Pair -This the the relationship between two country's currencies. It is often denoted like this: GBP/USD, EUR/JAP, AUD/INR
Holiday money rate or tourist rate– This is another term for a sell rate.
Sell rate– This is the rate at which we sell foreign currency in exchange for local currency. For example, if you were heading to Europe, you would exchange British pounds for euros at the sell rate.
Spot rate– This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate
Spread– This is the difference between the buy and sell rates offered by a foreign exchange provider such as us.
Exchange Rates FAQ's
Why do currency exchange rates fluctuate?
Currencies constantly move up and down against each other as financial markets change. These movements can be caused by supply and demand, as well as by political and economic events.
Why are tourist money exchange rates not the same as the market spot rate?
The market (or spot) exchange rate, is the rate at which banks exchange currencies. There are a lot of processes and people involved in providing currency into your hands. There is a cost to doing this, which means that the value of the currency is affected to cover all of said cost.
At Travelex, we work to provide you with the best value on your foreign currency as possible. We are constantly striving to improve our systems and processes to make them more efficient, meaning that you get the best value for your travel money exchange rates from us.
Find out more on spot rates and tourist rates here.
Does it pay to shop around and compare rates?
There are a lot of foreign currency providers in the UK, offering you a range of products and services. With so much choice, it means that you can spend time to find the best exchange rate in the market.
Need some extra help with your currency?
Currency converter
See how much your mojito, poncho, or dinner in Paris will cost youin British pounds by using our simple currency converter.
Convert currency
Travel rate tracker
Not sure if it’s the right time to buy your currency? Let us do the hard work by monitoring the rates for you! We'll email you when your chosen currency hits the rate you need.
Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online peer-to-peer foreign currency exchanges. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.
Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online peer-to-peer foreign currency exchanges. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.
The best US dollar exchange rate right now is 1.2628 from Travel FX. This is based on a comparison of 17 currency suppliers and assumes you were buying £750 worth of US dollars for home delivery.
You will receive just 0.30 Kuwait dinar after exchanging 1 US dollar, making the Kuwaiti dinar the world's highest-valued currency unit per face value, or simply 'the world's strongest currency'.
Online firms such as Revolut may offer a better exchange rate. Along with low-cost providers Monzo, Starling Bank and others, Revolut holders can expect fee-free cash withdrawals (usually subject to a monthly limit).
Exchange rates at banks are slightly better than elsewhere. You can also order currency before you leave on your trip from a number of websites that will ship it to your home within a couple of days.
If you're wondering what currencies are better than the U.S. dollar, the best answer would be the Kuwaiti dinar (KWD), the official currency of Kuwait, which is the strongest currency in the world. The USD to KWD exchange rate is 0.31, which means that one Kuwaiti dinar is worth roughly $3.
What country is a dollar worth most? Some of the countries where a dollar is worth the most money include Mexico, Peru, Chile, and Colombia. It's possible to exchange dollars for local currency in these countries at favorable exchange rates.
Introduction: My name is Geoffrey Lueilwitz, I am a zealous, encouraging, sparkling, enchanting, graceful, faithful, nice person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.