Quickly Calculate Foreign Exchange Conversion With XE Currency App
Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full Advertising Policy.
Folks who travel internationally often do quick math when exchanging currencies. Or while using US dollars to purchase an item that’s listed in the local currency.
But instead of worrying about currency conversions on vacation, you can use a terrific free app called XE Currency, which does the math for you to make sure you’re getting the best deal!
The app includes live exchange rates for 180+ currencies throughout the world. So you’ll be covered no matter where you’re traveling!
I’ll show you how quick and easy it is to use the XE Currency Exchange app!
XE Currency Exchange App
Link: XE Currency Exchange App
It doesn’t hurt to check the math when you’re withdrawing money overseas or comparing the price of an item in US dollars to the local currency.
This way you’ll see if you’re getting a fair exchange rate. Unlike the one time I converted currency at the airport!
I recommend the XE currency exchange app to check currency conversions. The app is available on the web or through a smartphone. There are 2 versions, including a free app and a professional version, which costs ~$2.
I tested out the free version on an Apple device and it worked great! The main difference with the professional version is there are no ads in the app. Both versions receive high ratings in the smartphone app stores!
A few of the perks of the app include:
- Free and easy to use
- Live exchange rates, which update on the app every 60 seconds
- View multiple currency conversions at the same time
- Charts of historical exchange rate
- See frequently used coins and notes used in the local currency
Here’s a step-by-step guide to using the app.
Step 1. Add Currencies
The first step is to add the currencies you’d like to save on the main screen.
Then, put a check mark next to the currencies you’d like to view.Note: You can have a minimum of 1 currency and maximum of 10 currencies selected at one time.
Step 2. Check Exchange Rate
Next, enter the desired amount of US dollars you’d like to convert to one of the foreign currencies you added. In this example, I entered $1,000.
Based on the exchange rates at the time I searched, $1,000 is worth:
- ~954 Euros
- ~813 British pounds
- ~1,341 Canadian dollars
By default, the exchange rates in the app update every 60 seconds. If you don’t have cell phone service, the app will pull the most recent available rate.
Step 3. Analyze Fees
If you’re exchanging currencies it’s unlikely you’ll get the exact amount displayed on the app.
Because banks and currency exchange locations add a “spread” into the exchange rate, which is how they make money on the transaction.
But the app can show you the estimated fees you paid for a currency exchange.
On the main screen, click the arrow next to the currency you’re exchanging into.
Then, enter the amount you paid in US dollars and the amount you received in the foreign currency.
On the bottom of the screen you’ll see the estimated fees you paid for that transaction based on the live exchange rate in the app.
The goal is to pay the lowest fees possible because this is money you won’t get back if you exchange back to US dollars later.
Step 4. View Local Currency Profile
A neat feature of the app is the ability to view details of the foreign currency, including which coins and notes the country issues.
To view the currency profile, swipe right on the desired currency. Then, tap on the 3rd icon from the right.
For example, I viewed the profile of the Euro.
I think the most useful information on the profile page is the frequently used coins and banknotes. During a trip you might collect a lot of coins from change. In some currencies, they’re worth more than coins in the US.
The next time you’re exchanging foreign currency, I recommend using the XE currency exchange app.
The free app is easy to use and provides live exchange rates for 180+ currencies. The app does the math for you to make sure you’re getting a good deal when you’re exchanging into a foreign currency.
You can also view currency profiles to see the frequently used coins and notes used in a foreign currency.
Have you used the XE currency exchange app?
Chase Sapphire Preferred® CardAPPLY NOW
Chase Sapphire Preferred® Card
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Either $5 or 5% of the amount of each transfer, whichever is greater.
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)