Uses the rate you enter (private, works offline). Banks add a margin to the mid-market rate, so use the rate you'll actually transact at.
Converting currencies for your business
If you buy from overseas suppliers, sell to international customers, or price in more than one currency, you need to convert amounts quickly and understand what a rate really means for your margins. This converter multiplies the amount you enter by the exchange rate you provide and shows the converted value and the reverse rate instantly. Because you set the rate yourself, it works for any currency pair and any moment in time — and nothing leaves your browser.
An exchange rate is simply the price of one currency in terms of another: if 1 USD buys 3.67 AED, then 100 USD converts to 367 AED. The tool shows both directions, so you can also see how many units of the first currency one unit of the second is worth. Entering the rate manually is deliberate — it lets you use the exact rate your bank or payment provider is offering, which is usually a little different from the mid-market rate you see quoted online.
That gap matters for a business. Banks and providers add a margin to the mid-market rate and sometimes a fixed fee, so the rate you actually receive on a payment can be a percent or two worse than the headline. When you convert supplier costs or overseas sales, use the rate you will really transact at, not the screen rate, so your margins are not quietly eroded by conversion spread.
For accounting, remember that gains and losses on foreign-currency transactions need recording when rates move between invoice and payment. Tallium handles multi-currency invoicing and records foreign-exchange differences automatically, so your books stay accurate even when you trade across borders.
Frequently asked questions
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