What is the Mid-Market Rate?
The mid-market rate is the midpoint between the bid and ask prices. It's the reference rate you see on financial sites — not usually the rate you get when you convert.
Defining the Mid-Market Rate
In any currency pair, buyers and sellers quote different prices. The bid is the highest price a buyer will pay. The ask is the lowest price a seller will accept. The mid-market rate is simply the average of these two: (bid + ask) / 2.
📊 Our Currency Converter shows mid-market rates for comparison. Real conversion rates from banks or brokers include a spread. See Exchange Rate Spreads for details.
Why It Matters
Mid-market rates are the fairest reference for "true" exchange rates. When comparing providers, check how much they add (or subtract) from this rate. A small spread means you get closer to the mid-market rate.
Where Mid-Market Rates Come From
They're derived from interbank and forex market data. Major data providers aggregate quotes from multiple sources to produce a representative mid rate. Rates update frequently as markets move.
Why It Matters for You
When comparing providers — banks, brokers, or transfer services — ask how their rate compares to the mid-market rate. A provider that says "we use the mid-market rate" or "we add only 0.5%" is giving you more transparency. Use our Forex Spread Cost Calculator to see how much you lose at different spread levels.
Our Converter
Our Currency Converter displays mid-market rates for comparison. Real conversion rates from banks or brokers will include a spread. Always verify before making a transaction.
For informational purposes only. Not financial advice.