Currency Converter

Each working day the European Central Bank publishes a reference rate for the euro against a list of currencies. A rate between two non-euro currencies, such as sterling against the yen, is obtained by dividing one euro rate by the other. That is all a cross rate is.

A reference rate is a statement of where the market was at a fixed moment, published for information and accounting. It is not an offer to deal. The rate you receive from a bank, a card or a broker will differ from it and will include that provider’s own margin.