Where the rates come from
Every rate on RateDay is a euro foreign exchange reference rate published by the European Central Bank (ECB). The ECB sets these rates each working day at about 14:10 CET, in a regular consultation between central banks, and publishes them at about 16:00 CET.
We fetch them through Frankfurter, a free, open-source service that republishes the ECB data. We don't adjust, round up or add a margin to them.
How other pairs are calculated
The ECB quotes each currency against the euro. To convert between two other currencies, we divide one euro rate by the other. For example, on 2 November 2026:
The ECB doesn't publish cross rates itself, so sites that use a different source may show slightly different figures for the same pair.
Mid-market vs your bank's rate
The reference rate sits in the middle of the market. Banks, card schemes and exchange counters usually offer a lower rate and keep the difference. Here is what different markups mean for 1,000 USD converted to euros at the 2 November rate of 0.89158:
| Markup on the rate | You receive | Cost of the markup |
|---|---|---|
| None (mid-market) | 891.58 EUR | 0.00 EUR |
| 1% | 882.67 EUR | 8.92 EUR |
| 3% | 864.84 EUR | 26.75 EUR |
| 5% | 847.00 EUR | 44.58 EUR |
Working out the markup on a quote
Take the mid-market rate, subtract the rate you were quoted, and divide by the mid-market rate. If a bank offers 0.8650 EUR per dollar when the reference rate is 0.89158:
Add any fixed fee on top to get the full cost. On the converter, open “Compare with your bank's rate” and type the rate you were quoted.
When rates update
The ECB publishes new reference rates at around 16:00 Central European Time on every TARGET working day. There are no new rates at weekends or on TARGET holidays: 1 January, Good Friday, Easter Monday, 1 May, 25 December and 26 December. On those days we show the most recent publication and its date.
Currency markets keep trading after the ECB publishes, so the rate you are quoted later in the day may already be different.
Supported currencies
We support the euro plus the 29 currencies the ECB publishes reference rates for.
- AUDAustralian Dollar
- BRLBrazilian Real
- CADCanadian Dollar
- CHFSwiss Franc
- CNYChinese Yuan
- CZKCzech Koruna
- DKKDanish Krone
- EUREuro
- GBPBritish Pound
- HKDHong Kong Dollar
- HUFHungarian Forint
- IDRIndonesian Rupiah
- ILSIsraeli New Shekel
- INRIndian Rupee
- ISKIcelandic Króna
- JPYJapanese Yen
- KRWSouth Korean Won
- MXNMexican Peso
- MYRMalaysian Ringgit
- NOKNorwegian Krone
- NZDNew Zealand Dollar
- PHPPhilippine Peso
- PLNPolish Złoty
- RONRomanian Leu
- SEKSwedish Krona
- SGDSingapore Dollar
- THBThai Baht
- TRYTurkish Lira
- USDUS Dollar
- ZARSouth African Rand
Questions
Are these live rates?
No. They are the ECB's daily reference rates, set once per working day. They don't change during the day, so a bank or exchange counter will usually quote you something different.
Can I use them for accounting or tax?
ECB reference rates are widely used for reporting, but rules differ between countries and organisations. Check which source your tax authority or auditor expects before you rely on them.
Why isn't my currency listed?
We only show the currencies the ECB publishes a reference rate for. If yours isn't one of them, RateDay can't convert it.
Can I send or exchange money through RateDay?
No. RateDay is an information tool. We don't hold accounts, move money or sell currency.
Something else? Get in touch.