Converting currency with Microsoft Excel is not as difficult as you might think. You can convert any type of currency in a few simple steps and one simple formula.
- Skill level:
Select the currency you want to convert to.
Find the current conversion rate. Sites such as Yahoo's currency converter will list the latest currency conversion rate for the various international currencies. Several sites offer this service, so perform an Internet search for the site you feel most comfortable with.
Open Microsoft Excel. Label the first three columns in the Excel spreadsheet as "Current Currency," "Currency Conversion Factor" and "Converted Currency." You don't have to label the columns as indicated here, but for instructional purposes, it makes it easier to identify the column's contents. You can label them A, B and C if you'd like.
Insert the amount of the currency you wish to convert in the first column (Current Currency). If you're converting $453 US dollars into another currency, insert that amount in the first column.
Place the currency conversion factor in the second column.
Create a formula in the third column. Insert this formula in the third column "+column1/cell1 * +colum2/cell1." In this example, assuming you did not skip a row after your title, your dollar amount will be in A2 and your conversion amount will be in B2; therefore, your formula will read "+A2*+B2." Be sure to hit the "Enter" key once you've put in the formula. It will automatically convert the currency.
Add formatting. If you want your converter to look nice, format the column by bolding, underlining or adding color.
Tips and warnings
- This will work for any currency. All you have to do is insert the appropriate currency conversion number factor in the "Currency Conversion Factor" column.
- Be sure to use the most up-to-date conversion rate in your "Currency Conversion Factor" column.
- If you are unfamiliar with Microsoft Excel formulas, the "+" at the beginning of the formula determines whether it is a positive or negative number. The asterisk "
- " is the symbol for multiplication.