Currency converter
European Central Bank reference rates, refreshed while you watch. Convert any amount, then apply your bank's spread to get the buying and selling rates you actually quote against.
Fetching live rates…
Banks quote a buying rate when they take foreign currency from you and a selling rate when they give it to you. Enter the total gap and the table below splits it either side of mid.
All rates
Three different rates, three different jobs
Customs valuation uses the CBIC notified rate. Commercial quoting uses the market mid shown here.
Actual settlement uses your bank's buying or selling rate. Substituting one for another is how an
assessable value ends up not matching the bill of entry.
Exchange rate questions
Which exchange rate should I use for customs?
For Indian customs valuation you must use the rate notified by CBIC for the month, not the market rate shown here and not your bank card rate. The three differ, sometimes by more than a rupee, and using the wrong one produces an assessable value that will not match the bill of entry.
Where do these rates come from?
European Central Bank reference rates, published once each working day. They are a neutral mid-market benchmark, which makes them the right basis for commercial quoting and for deriving your bank buying and selling rates by applying a spread.
Why do buying and selling rates differ?
Your bank buys foreign currency from you at the buying rate when export proceeds arrive, and sells it to you at the selling rate when you pay for freight or imports. The gap between them is the bank spread and on a large shipment it is real money.
How often does this page update?
The feed refreshes automatically while the page is open. The underlying ECB reference rates are published once per working day, so the value itself changes daily rather than by the second.