Q:

How can you compare currency rates?

A:

Quick Answer

Rates for different types of currency can be compared by visiting the websites for various financial and exchange rate organizations, such as Onada, Best Exchange Rates and Exchange Rates UK. These sites offer real-time conversion tools that display the exchange rates for different currencies in different amounts.

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Full Answer

Forex trading website Onada features a simple tool that allows businesses or individuals to view the latest currency exchange rates for the 26 most commonly used currencies. The tool, called the Visual fxConverter, displays each currency's names the flags for the country of origin next to an entry field. Simply enter a numerical value into any of the fields, choose the type of conversion desired and click the "Calculate" button. The default conversion method is the Interbank rate, though several other options are available.

The Best Exchange Rates website offers a variety of currency rate comparison tools for its users. The main page features the latest rates for the most common types of currency used, with the option to view historical data on each currency's value. A one-to-one currency conversion tool can be found at the top of the site that allows users to perform a direct conversion between two different currencies using current rates.

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