Currency conversion multiplies your amount by the exchange rate to find the equivalent value in another currency.
Converted Amount = Original Amount × Exchange Rate
Convert 0 USD to EUR at an exchange rate of 0.92. Result = 100 × 0.92 = 92 EUR.
An exchange rate of 0.92 means 1 USD buys 0.92 EUR. If the rate goes up to 0.95, the dollar got stronger. Exchange rates fluctuate daily based on economic factors, interest rates, and market demand.