Invest or Pay Off Debt: Which Is More Profitable?
To invest or to pay off debt — the question of the ages. You might think the answer is obvious, but you need to dig a little deeper. Here's how to actually decide.
Live prices
Money tools
Currency desk · live exchange rates
Mid-market rates for the world's major currencies, refreshed daily. Type an amount — the result updates as you go.
Loading live rates…
An exchange rate is just the price of one currency expressed in another. When you see a quote like USD/EUR, the first currency is the base (the one you’re converting from) and the second is the quote (the one you’re converting into). The rate tells you how many units of the quote currency one unit of the base currency buys. Flip the pair and you flip the math, which is why the Swap button here gives you a different-looking number for the same trade.
The figure this converter shows is the mid-market rate — also called the interbank rate. It’s the midpoint between the price buyers are willing to pay and the price sellers are asking, and it’s the same reference number you’ll see on financial news and in Google results. Rates move constantly during market hours because supply and demand shift: interest-rate decisions, inflation data, trade flows, and political news all push currencies up and down against each other. For everyday conversions, a rate refreshed once a day is more than precise enough — major currencies rarely move more than a fraction of a percent inside a single day.
Here’s the part most people miss: almost nobody trades at the mid-market rate. Banks, airport kiosks, card networks, and money-transfer apps all add a spread — a markup baked into the rate — and sometimes a flat fee on top. The mid-market number is the honest baseline; the rate you’re actually charged sits a little below it (when you’re buying foreign currency) or above it (when you’re selling), and the gap is the provider’s profit. A typical retail markup runs anywhere from under 1% with a good online service to 5% or more at an airport exchange desk. The bigger the gap between this converter’s rate and the deal in front of you, the more you’re paying for the convenience.
Say you want to convert 1,000 USD to EUR and the mid-market rate is 0.92 — that’s a sample figure for illustration, not today’s live rate, which you’ll see in the tool above. At mid-market, 1,000 USD becomes 920 EUR. Now imagine you change that money through a desk that adds a 3% markup. Instead of 0.92 you’re given roughly 0.892, so your 1,000 USD turns into about 892 EUR. That 28-euro difference is the spread — money you’d never see itemized as a “fee,” but you paid it all the same. Run the same trade through a provider charging 1% and you’d keep about 911 EUR. Knowing the mid-market baseline is the only way to see those numbers clearly.
Moving money abroad rather than just pricing it? Our guide to the best apps for transferring money compares speed, fees, and the rates services like WorldRemit actually give you. If you’re tracking value rather than spending it, the precious-metals price tool covers gold and silver, and the inflation calculator shows how purchasing power changes over time. For payment math, mortgages, and more, browse all of our free calculators. This converter is a planning tool, not financial advice — for tax or formal accounting, use the official rate for the date in question.
Rates are mid-market figures refreshed once a day. That’s plenty for budgeting, travel planning, and understanding prices — currencies move only fractionally within a day. They are reference rates, not the exact price a bank or card will give you on a live trade.
The mid-market (or “interbank”) rate is the midpoint between the buy and sell price of a currency — the rate you see on financial news. Banks, airports, and card networks add a margin on top, so the rate you’re actually charged is usually a little worse than mid-market. Comparing against this number tells you how big that margin is.
The world’s most-traded currencies: the US dollar (USD), euro (EUR), British pound (GBP), Japanese yen (JPY), Canadian dollar (CAD), Australian dollar (AUD), Swiss franc (CHF), Chinese yuan (CNY), Indian rupee (INR), and Mexican peso (MXN). Enter one amount and it’s shown in all of them at once.
Because they add a markup. The converter shows the “true” mid-market rate; a currency-exchange desk or a card with foreign-transaction fees builds its profit into a less favourable rate. Use this tool as the baseline to judge whether an offer is fair before you exchange money.
Treat them as a guide, not an official source. For tax filings or formal accounting, use the published rate from your tax authority or bank for the specific date in question. This converter is built for everyday decisions — planning a trip, sizing up a price abroad, or sanity-checking an exchange offer.
It varies widely. A good online money-transfer service might add under 1% to the mid-market rate, a typical bank or card 2–4%, and an airport exchange desk 5% or more. The markup is built into the rate itself rather than shown as a fee, so the honest way to measure it is to compare the rate you’re offered against the mid-market figure in this tool. On 1,000 USD, a 3% markup quietly costs you about 30 dollars’ worth of currency.
Free · every Sunday
What moved in the markets, the guides worth reading, and what it all means — in one short email. No noise, no bank linking, leave anytime.
To invest or to pay off debt — the question of the ages. You might think the answer is obvious, but you need to dig a little deeper. Here's how to actually decide.
There are so many tips, tricks, gurus, and books that teach you how to manage your money. The 50/30/20 rule cuts through all of it — here's how it works, and how to put it on autopilot.
The general consensus agrees that the age range of Millennials are individuals that were born between the early 1980s and early 2000s.
The Sunday Digest
Metals, rates and inflation, digested into one short email every Sunday. Free, no bank linking, leave anytime.