If you’re comparing exchange rates trying to save money then there’s a good chance you’ve heard the term “mid-market rate.” What does it mean, though? This blog post will explain what the mid-market rate is, why it’s important to you, and how it impacts your daily life.
The international mid-market rate (IMM) is the average exchange rate between two foreign currencies. This is known as a mid-market rate because it is neither the rate at which banks trade and transact with each other, nor is it a retail exchange rate. It is also known as a wholesale or interbank exchange rate.
On BestExchangeRates each bank and FX provider’s currency exchange rates are compared to the mid-market rate. This mid-market rate is used in global financial markets and what you normally see reported on the news.
It is called the “mid-rate” because it is always half-way between latest BUY and SELL rates for the currency pair. The most important thing to know is that the mid-market rate is generally the best possible exchange rate available.
Generally they say when investing you should buy low and sell high and that is exactly what the banks are doing with you, they buy currency from you at low rates and sell currency back to you at high rates, so unfortunately you end up buying high and selling low!
That is why most banks and brokers hide this mid-rate from you by marking it up significantly – to their own benefit.
Best Exchange Rates
BER compares exchange rates from banks and FX specialists.
This site compare the rates FX providers are offering to this mid-market rate showing you the percentage margin (profit) that is being charged by the Vendor in the right hand column.
Once the margins are expressed in percentages (rather than just a rate) the margin you are being charged by each Vendor is much clearer & easier to understand.
The rates used in BestExchangeRates are aggregated from a number of markets and updated regularly through the day. You can check against finance.yahoo.com, xe.com or oanda.com to confirm that the rate used on BestExchangeRates is close to the current market rate.
Rate Menu
EUR : Euro USD : United States dollar AUD : Australian dollar CAD : Canadian dollar CHF : Swiss franc GBP : Pound Sterling INR : Indian rupee NZD : New Zealand dollar PLN : Polish Zloty RUB : Russian Ruble SGD : Singapore dollar TRY : Turkish Lira AED : United Arab Emirates AFN : Afghan Afghani ALL : Albanian lek AMD : Armenian dram ANG : Netherlands Antillea AOA : Angolan kwanza ARS : Argentine peso AUD : Australian dollar AWG : Aruban florin AZN : Azerbaijani manat BAM : Bosnia-Herzegovina C BBD : Barbadian dollar BDT : Bangladeshi taka BGN : Bulgarian lev BHD : Bahraini dinar BIF : Burundian franc BMD : Bermudan dollar BND : Brunei dollar BOB : Bolivian boliviano BRL : Brazilian real BSD : Bahamian dollar BTC : Bitcoin BTN : Bhutanese ngultrum BWP : Botswanan pula BZD : Belize dollar CAD : Canadian dollar CDF : Congolese franc CHF : Swiss franc CLP : Chilean peso CNY : Chinese yuan COP : Colombian peso CUP : Cuban peso CVE : Cape Verdean escudo CZK : Czech Republic horun DJF : Djiboutian franc DKK : Danish krone DOP : Dominican peso DZD : Algerian dinar EGP : Egyptian pound ETB : Ethiopian birr ETH : Etherium EUR : euro FJD : Fijian dollar FKP : Falkland Islands pou GBP : Pound Sterling GEL : Georgian lari GHS : Ghanaian cedi GIP : Gibraltar pound GMD : Gambian dalasi GNF : Guinean franc GTQ : Guatemalan quetzal GYD : Guyanaese dollar HKD : Hong Kong dollar HNL : Honduran lempira HRK : Croatian kuna HTG : Haitian gourde HUF : Hungarian forint IDR : Indonesian rupiah ILS : Israeli new sheqel INR : Indian rupee IQD : Iraqi dinar IRR : Iranian rial ISK : Icelandic krona JMD : Jamaican dollar JOD : Jordanian dinar JPY : Japanese yen KES : Kenyan shilling KGS : Kyrgystani som KHR : Cambodian riel KMF : Comorian franc KPW : North Korean won KRW : South Korean won KWD : Kuwaiti dinar KYD : Cayman Islands dolla KZT : Kazakhstani tenge LAK : Laotian kip LBP : Lebanese pound LKR : Sri Lankan rupee LRD : Liberian dollar LSL : Lesotho loti LTC : Litecoin LYD : Libyan dinar MAD : Moroccan dirham MDL : Moldovan leu MGA : Malagasy ariary MKD : Macedonian denar MMK : Myanma kyat MNT : Mongolian tugrik MOP : Macanese pataca MRO : Mauritanian ouguiya MUR : Mauritian rupee MVR : Maldivian rufiyaa MWK : Malawian kwacha MXN : Mexican peso MYR : Malaysian ringgit MZN : Mozambican metical NAD : Namibian dollar NGN : Nigerian naira NOK : Norwegian krone NPR : Nepalese rupee NZD : New Zealand dollar OMR : Omani rial PAB : Panamanian balboa PEN : Peruvian nuevo sol PGK : Papua New Guinean ki PHP : Philippine peso PKR : Pakistani rupee PLN : Polish zloty PYG : Paraguayan guarani QAR : Qatari rial RON : Romanian leu RSD : Serbian dinar RUB : Russian ruble RWF : Rwandan franc SAR : Saudi riyal SBD : Solomon Islands doll SCR : Seychellois rupee SDG : Sudanese pound SEK : Swedish krona SGD : Singapore dollar SHP : Saint Helena pound SLL : Sierra Leonean leone SOS : Somali shilling SRD : Surinnse dollar SYP : Syrian pound SZL : Swazi lilangeni THB : Thai baht TJS : Tajikistani somoni TMT : Turkmenistani manat TND : Tunisian dinar TOP : Tongan paanga TRY : Turkish lira TTD : Trinidad and Tobago TWD : New Taiwan dollar TZS : Tanzanian shilling UAH : Ukrainian hryvnia UGX : Ugandan shilling USD : US dollar UYU : Uruguayan peso UZS : Uzbekistan som VND : Vietnamese dong VEF : Venezuelan bolívar VUV : Vanuatu vatu WST : Samoan tala XAF : Central African fran XAU : Gold XAG : Silver XPD : Palladium XPT : Platinum XCD : East Caribbean dolla XDR : Special drawing righ XOF : West African franc XPF : CFP franc XRP : Ripple YER : Yemeni rial ZAR : South African rand ZMW : Zambian kwacha ZWL : Zimbabwean dollar X : US dollar Index BTC : Bitcoin ETH : Ethereum LTC : Litecoin XRP : Ripple EUR : Euro USD : United States dollar AUD : Australian dollar CAD : Canadian dollar CHF : Swiss franc GBP : Pound Sterling INR : Indian rupee NZD : New Zealand dollar PLN : Polish Zloty RUB : Russian Ruble SGD : Singapore dollar TRY : Turkish Lira AED : United Arab Emirates AFN : Afghan Afghani ALL : Albanian lek AMD : Armenian dram ANG : Netherlands Antillea AOA : Angolan kwanza ARS : Argentine peso AUD : Australian dollar AWG : Aruban florin AZN : Azerbaijani manat BAM : Bosnia-Herzegovina C BBD : Barbadian dollar BDT : Bangladeshi taka BGN : Bulgarian lev BHD : Bahraini dinar BIF : Burundian franc BMD : Bermudan dollar BND : Brunei dollar BOB : Bolivian boliviano BRL : Brazilian real BSD : Bahamian dollar BTC : Bitcoin BTN : Bhutanese ngultrum BWP : Botswanan pula BZD : Belize dollar CAD : Canadian dollar CDF : Congolese franc CHF : Swiss franc CLP : Chilean peso CNY : Chinese yuan COP : Colombian peso CUP : Cuban peso CVE : Cape Verdean escudo CZK : Czech Republic horun DJF : Djiboutian franc DKK : Danish krone DOP : Dominican peso DZD : Algerian dinar EGP : Egyptian pound ETB : Ethiopian birr ETH : Etherium EUR : euro FJD : Fijian dollar FKP : Falkland Islands pou GBP : Pound Sterling GEL : Georgian lari GHS : Ghanaian cedi GIP : Gibraltar pound GMD : Gambian dalasi GNF : Guinean franc GTQ : Guatemalan quetzal GYD : Guyanaese dollar HKD : Hong Kong dollar HNL : Honduran lempira HRK : Croatian kuna HTG : Haitian gourde HUF : Hungarian forint IDR : Indonesian rupiah ILS : Israeli new sheqel INR : Indian rupee IQD : Iraqi dinar IRR : Iranian rial ISK : Icelandic krona JMD : Jamaican dollar JOD : Jordanian dinar JPY : Japanese yen KES : Kenyan shilling KGS : Kyrgystani som KHR : Cambodian riel KMF : Comorian franc KPW : North Korean won KRW : South Korean won KWD : Kuwaiti dinar KYD : Cayman Islands dolla KZT : Kazakhstani tenge LAK : Laotian kip LBP : Lebanese pound LKR : Sri Lankan rupee LRD : Liberian dollar LSL : Lesotho loti LTC : Litecoin LYD : Libyan dinar MAD : Moroccan dirham MDL : Moldovan leu MGA : Malagasy ariary MKD : Macedonian denar MMK : Myanma kyat MNT : Mongolian tugrik MOP : Macanese pataca MRO : Mauritanian ouguiya MUR : Mauritian rupee MVR : Maldivian rufiyaa MWK : Malawian kwacha MXN : Mexican peso MYR : Malaysian ringgit MZN : Mozambican metical NAD : Namibian dollar NGN : Nigerian naira NOK : Norwegian krone NPR : Nepalese rupee NZD : New Zealand dollar OMR : Omani rial PAB : Panamanian balboa PEN : Peruvian nuevo sol PGK : Papua New Guinean ki PHP : Philippine peso PKR : Pakistani rupee PLN : Polish zloty PYG : Paraguayan guarani QAR : Qatari rial RON : Romanian leu RSD : Serbian dinar RUB : Russian ruble RWF : Rwandan franc SAR : Saudi riyal SBD : Solomon Islands doll SCR : Seychellois rupee SDG : Sudanese pound SEK : Swedish krona SGD : Singapore dollar SHP : Saint Helena pound SLL : Sierra Leonean leone SOS : Somali shilling SRD : Surinnse dollar SYP : Syrian pound SZL : Swazi lilangeni THB : Thai baht TJS : Tajikistani somoni TMT : Turkmenistani manat TND : Tunisian dinar TOP : Tongan paanga TRY : Turkish lira TTD : Trinidad and Tobago TWD : New Taiwan dollar TZS : Tanzanian shilling UAH : Ukrainian hryvnia UGX : Ugandan shilling USD : US dollar UYU : Uruguayan peso UZS : Uzbekistan som VND : Vietnamese dong VEF : Venezuelan bolívar VUV : Vanuatu vatu WST : Samoan tala XAF : Central African fran XAU : Gold XAG : Silver XPD : Palladium XPT : Platinum XCD : East Caribbean dolla XDR : Special drawing righ XOF : West African franc XPF : CFP franc XRP : Ripple YER : Yemeni rial ZAR : South African rand ZMW : Zambian kwacha ZWL : Zimbabwean dollar X : US dollar Index BTC : Bitcoin ETH : Ethereum LTC : Litecoin XRP : Ripple
View EUR/USD Rates
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.