There’s a different Mastercard exchange rate between the U.S. dollar and approximately 150 other currencies, and they all fluctuate from day to day. You can easily see what exchange rate your transaction will have by going to Mastercard’s exchange rate calculator.
It’s very simple to use. All you have to do is put in the date, currency of the merchant, transaction amount, foreign transaction fee (if applicable) and United States Dollar (USD) as your card’s currency. Then click “calculate,” and you’ll see the amount you’re paying in USD at the bottom right. The exchange rate will be to the left of that.
Let’s take a look at some of today’s (01/09/18) exchange rates for popular travel spots. These are subject to change as time goes on.
Popular Mastercard exchange rates:
Euro: 1 EUR = 1.90 USD
Bahamian Dollar: 1 BHD = 1 USD
Canadian Dollar: 1 CAD = 0.78 USD
Great British Pound: 1 GBP = 1.34 USD
Mexican Peso: 1 MXN = 0.05 USD
Chinese Yuan Renminbi: 1 CNY = 0.15 USD
Japanese Yen: 1 JPY = 0.01 USD
Russian Ruble: 1 RUB = 0.02 USD
Credit cards are actually the cheapest way to convert currency. But you may still be subject to a foreign transaction fee, which is an extra charge when you buy from a foreign merchant. While all Mastercards offer the same exchange rates, only some of them charge foreign transaction fees.
You can compare no foreign fee Mastercard credit cards on WalletHub. And if you’re still unsure about which to apply for, you can join WalletHub for free to get personalized credit card recommendations with high approval odds.
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