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Currency calculators are mostly used by the foreign exchange traders and international travellers. However, FX traders find converter currency most useful as they can easily know the current and updated exchange rates of different foreign currencies and that makes it easier for them to trade in the FX market. Transnational financial transactions also come easier with extensive usage of this type of converters. These converters or calculators are self-propelled and work on preset algorithm. Therefore, users get the updated and accurate data whenever they want. As the currency market fluctuates oftentimes, the traders always want to stay updated about the latest rates. Internet-based currency converter has especially become popular among online forex traders who just want to keep an eye on the currency market 24/7. How does a calculator work? These days, converter currency tools are mostly web-based. The proprietors of these tools make use of the power of internet to gather real time data and send feeds to the users as and when the rates fluctuate. Most of these calculators are free to use whereas you may have to pay a small amount for using web-based software applications that provide information of currency exchange rates and many other associated things. You have to download and install these applications on your computer and may have to renew your subscription after a certain period of time for using their information services. However, if you choose to use an online currency converter, you can use it for free and theres no need to download or install anything. These converters work in a simple manner. You can just select from the drop-down list of currencies and compare the rate difference between two currencies. Which currencies are included?An online converter currency is primarily meant for forex traders and business and leisure travellers who visit many countries and want to check the currency exchange rates while on the move. Whether you are going abroad or want to check USD exchange rates for AUD in real time, you can use can online calculator like this and that wont cost you a penny. If the rates fluctuate in a matter of seconds, the system will fetch the data and automatically refresh itself. So you can get to know the slightest changes that might happen. A currency converter like this can be compared to a sincere watchdog who is keeping a sharp eye on the forex market changes round the clock. You can get updated information on almost 80 to 85 currencies that include United States Dollars, Great Britain Pound, Australian Dollar and many other currencies. Other benefitsAn online converter currency is much more than just a calculator. A calculator is just a part of it. Whenever you visit a site that has a calculator in it, you can expect fresh information and tips on currency market trading, historical rates and many more info bits that might mean most to you as a trader. If you are new to the currency exchange market, you can know the implications of the jargons commonly used and soon become an active part of the currency market trading. Finding a currency converter online is not a big deal as there are several websites providing same kind of info services.