When you tap the currency conversion button in a group or friendship, Splitwise will convert all expenses using the exchange rate at that moment.
Due to the nature of currency markets, exchange rates may fluctuate between the time you pay for an expense and the time you convert it. Under normal market conditions, these fluctuations are relatively small for stable currencies. You can also choose to convert multiple times over the course of a trip to keep your conversions as close as possible to the rates you actually paid.
Our rate source
We use Open Exchange Rates to track the market rate between currencies at the exact moment you choose to convert. You can learn more at openexchangerates.org/about.
Our rate source
We use Open Exchange Rates to track the market rate between currencies at the exact moment you choose to convert. You can learn more at openexchangerates.org/about.
A note on bank markups
The rate from Open Exchange Rates is the "mid-market" or wholesale rate that banks charge each other. Banks and financial institutions add their own fees on top of this, so you may see a slightly different rate when withdrawing cash from an ATM or paying by card abroad.
The rate from Open Exchange Rates is the "mid-market" or wholesale rate that banks charge each other. Banks and financial institutions add their own fees on top of this, so you may see a slightly different rate when withdrawing cash from an ATM or paying by card abroad.
