What does a Currency Converter do?
A currency converter is a software code that is designed to convert one currency into another in order to to check its value. The code is generally a part of a web site or it forms a mobile app and it is based on current market or bank exchange rates.
In order to convert one currency into another, a user enters an amount of money (for example 100) and chooses the currency, say he is interested in ( US dollars). The user enters the amount of money, then the currency, then the choose the currency they are interested in, say they would like to know how many Japanese Yen that equals. They use the pull down menu to add. There is an extensive list. Once they add, they can see that $100 dollars equals, 10905 Japanese Yen.
Currency converters maintain real-time information on current market or bank exchange rates, so that the calculated result changes whenever the value of either of the component currencies change.