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EUR to USD — compare your quote with the mid-market rate

Euro → US Dollar

EUR/USD is the reverse of the most-traded pair on earth. The mid is the same — banks just quote one direction. If you're sending euros to a USD account, the same markup rules apply.

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Recipient gets at the mid-market rate
1,139.73USD
For 1,000 EUR · 1 EUR = 1.1397 USD
Enter the rate you were quoted above to see the gap from the mid-market rate.
Spot mid source: fallback · Indicative only

About the EUR/USD pair

This page shows today’s wholesale EUR/USD mid-market rate beside the rate a bank, broker, or kiosk has quoted you. The result is the gap between the two, as a percentage and an amount, in four tiers: under 0.3%, 0.3–1%, 1–3% and over 3% of the amount. The mid-market rate is the rate banks trade at, not a rate you can transact at directly — providers add their margin on top, and that margin is the gap RateCheck shows.

Who sends money on this route

Euros go to dollars mainly for business and study. European exporters and freelancers invoice US clients in dollars and convert the proceeds home, while importers pay for US software, cloud services and components.

Families in the euro area fund students at US universities, where tuition and housing are billed in dollars. Property owners in Florida and other US holiday markets also move money across for upkeep and running costs.

What moves EUR/USD

The European Central Bank and the Federal Reserve set the policy rates on each side. The pair reflects the gap between them, so a change by either bank, or a hint of one, moves the rate.

For the euro, the flash inflation estimate, the purchasing managers' surveys and each ECB decision matter most. For the dollar, the monthly jobs report, consumer price inflation and the Fed meeting dominate. The dollar also tends to strengthen when markets turn cautious, even when nothing has changed in Europe.

EUR/USD is quoted as dollars per euro to four decimal places, and it is the deepest market in currency trading.

How to read a quote

A quote for sending euros to a US account shows how many dollars each euro delivers. The mid-market rate is the wholesale midpoint; the customer rate is lower, and the difference is the provider's margin on the transfer.

Bank margins on international payments are commonly a few per cent, and specialist providers are often under one per cent. On a liquid pair like this the wholesale spread is a tiny fraction of that, so almost all of the gap is margin rather than market cost.

Common questions

How far is my EUR/USD quote from the mid-market rate?+
Compare the rate you've been quoted with the live mid-market EUR/USD rate — the wholesale rate banks trade at. RateCheck shows the gap as a percentage and an amount, in four tiers: under 0.3%, 0.3–1%, 1–3% and over 3% of the amount.
How much do banks and brokers charge to convert euro to US dollar?+
Retail bank margins on international transfers are commonly a few per cent; specialist providers are often under one per cent. The margin is built into the exchange rate, usually on top of any fixed transfer fee, and is rarely shown separately. RateCheck shows it as the gap between your quote and the mid-market EUR/USD rate.
Is the mid-market EUR/USD rate the rate I'll actually get?+
No. The mid-market (interbank) rate is the wholesale reference; providers add their margin on top. It's the rate the gap is measured from, not a rate you can transact at directly.
How many decimal places matter in a EUR/USD quote?+
Wholesale quotes run to four or five decimals. For a retail transfer the third and fourth decimals still matter: a difference of one cent per euro is close to one per cent of the amount sent.
Do US banks charge to receive euros converted to dollars?+
Some apply an incoming wire fee, and a few deduct correspondent charges along the way. Sending in dollars, already converted, means the receiving bank does not apply its own rate to the money.
Why did EUR/USD move when there was no European news?+
The dollar side moves on US data and on global risk appetite. A shift in the outlook for Fed policy or a bout of market nerves changes the pair even on a quiet day in the euro area.

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