Currency Converter

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A currency converter is software code that is designed to convert one currency into another in order to check its corresponding value. The code is generally a part of a web site or it forms a forex currency converter yahoo app and it is based on current market or bank exchange rates. In order to convert one currency into another, a user enters an amount of money e.

The application software then calculates and displays the corresponding amount of money. Currency converters aim to maintain real-time information on current market or bank exchange rates, so that forex currency converter yahoo calculated result changes whenever the value forex currency converter yahoo either of the component currencies does.

They do so by connecting to forex currency converter yahoo database of current currency exchange rates. The frequency at which currency converters update the exchange rates they use varies: Currency converters usually display a value that is not biased towards buying or selling.

This is useful when:. Currency converters are often used as a means of checking the relative value of a currency before exchanging it into another currency. The currency conversion software calculates the rates as decimal point numbers with typically 4 decimals after the comma. Some may calculate the conversion rates with more decimals internally but only 4 are displayed. This is related to precision, software internalization i18n and how the Forex foreign exchange market works, where most conversions have 4 decimal places, although some currency pairs also have 5.

Most currency converters use up to 4. Some currency forex currency converter yahoo software converts currency alongside information regarding the currencies. This information can be very helpful for travelers and those looking to make money by trading currency. A trader would seek to forex currency converter yahoo the currency at a low rate and sell at a high rate, while a traveler could wait to exchange money at home in a favorable market.

From Wikipedia, the free encyclopedia. This article is about software code which converts currency. For templates to use for currency conversion on Wikipedia, see Category: Retrieved from " https: Currency Foreign exchange market Application software. Webarchive template archiveis links. Views Read Edit View history. This page was last edited on 25 Marchat By using this site, you agree to the Terms of Use and Privacy Policy.

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