Currency Converter & Remittance Cost Calculator
Convert currencies and see what the exchange-rate markup and transfer fee actually cost you.
A currency conversion uses the mid-market rate, but remittance platforms add a markup and a fee. Sending 1,000 USD to India at a mid-market rate of 87.40 gives ₹87,400; a 1% markup plus a ₹400 fee reduces the payout to roughly ₹86,126 — about ₹1,274 of total cost.
Your Inputs
You receive in INR
Amount received
₹86.1 K
Markup cost
₹874
Transfer fee
₹400
Effective rate
1 USD = 86.5260 INR
Total cost of transfer
₹1,274
Formula used
Amount received = Amount x Mid-market rate x (1 - Markup%) - Transfer fee
How this works
Mid-market rate versus the rate you are quoted
The mid-market rate is the midpoint between global buy and sell prices for a currency pair. Banks and transfer apps quote a slightly worse rate and keep the difference. That gap, called the markup, is the least visible part of the cost.
Two costs, not one
Every cross-border transfer has a stated fee and a hidden markup. A service charging no fee but a 2% markup is usually more expensive than one charging a small flat fee on a near mid-market rate. Compare the final amount credited, not the headline fee.
Rules that apply in India
Inbound remittances arrive through RBI-recognised channels such as the Rupee Drawing Arrangement or the Money Transfer Service Scheme, which caps cash payouts. Outbound remittances by residents fall under the Liberalised Remittance Scheme with an annual limit of USD 250,000 per person and TCS on certain purposes.
How to use this calculator
Enter the amount and currencies, then set the markup and fee your provider quotes. The result shows the amount received, the effective rate and what the conversion costs in total. Rates here are indicative reference values for learning, not live quotes.