How to Calculate the Euro Into the Dollar

Knowing how to caculate your money from one currency to another ensures you are getting the fairest possible rate.

Whether traveling or doing business overseas, it is reassuring to know you are getting a fair exchange rate for your money. To ensure you are getting the best possible price when exchanging Euros to U.S. dollars, you will need a calculator and the current exchange rate.

Step 1

Contact your bank or credit card company and ask what the fee is for exchanging foreign currency into U.S. dollars. Record that percentage.

Step 2

Log onto the Internet and find the current exchange rate. A quick search will give you the current rate.

Step 3

Using a calculator, multiply the amount of your Euros by the exchange rate. For example, if you wish to exchange 100 Euros, multiply 100 by the current exchange rate; at the time of this writing, one Euro is equal to 1.4280 U.S. dollars. Therefore, you would receive: 100 x 1.4284 = $142.84.

Step 4

When exchanging Euros for U.S. dollars, subtract roughly 1%-3% from the total, this amount representing fees to the bank and/or credit card company for performing the exchange.

Tip

Many internet sites have built-in calculators; simply enter the amount you would like to exchange and the calculator will give you the resulting number.

Some banks and credit card companies offer zero fee currency exchanges when you use your credit card to make purchases in foreign currency. A quick phone call will tell you what your bank or credit card company charges.

Warning

Avoid "Currency Exchange" kiosks and storefronts, as they often charge the highest fees. Banks almost always offer the best exchange rates, so using your ATM or debit card to remove cash from an ATM in a foreign country will mostly likely get you the fairest exchange rate with the lowest fees.

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