The amounts above are calculated using the Market Interbank rate. Sorry, bank rates not available. OFX fees not included in the conversion amounts shown above. This fee may vary and OFX receives no portion of it. There are 3 major types of exchange rates systems which governments employ to determine the market value of their currencies.
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OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website. O FX provides international money transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.
Interbank rates, also commonly referred to as market rates, are the official live conversion rates for a given currency pair. The interbank rate is the constantly fluctuating price at which banks trade currencies with each other. At OFX, our margins are substantially less, so the more you use our service the more you save. Types of Exchange Rates There are 3 major types of exchange rates systems which governments employ to determine the market value of their currencies.
Most major and relatively stable currencies employ a floating exchange rate or fluctuating exchange rate , which are determined by the forces of supply and demand.
The value of the currency is determined by market factors including interest rates, consumer and inflation data, political climate and fluctuations in the value of critical exports. Managed float exchange rates. Countries employing a managed float include Indonesia and Singapore.
A fixed exchange rate regime ties the value of the currency to the fluctuations of another currency. The Hong Kong dollar and U. Log in to see the live rates for yourself. Make an informed decision and make the most of your money.
USD forecasting and predictions Reading Time: CAD — Canadian Dollar. GBP — British Pound. JPY — Japanese Yen.
SGD — Singapore Dollar. See a full list of our supported currencies. Thank you for your enquiry! Email Required Not valid. Topic General feedback Call back request Complaints Questions about recent transfer Questions before registering Refer a friend Submission of identity documents Technical support Other.More...