If you’re a small business person, chances are you’ve dealt with currency. And if you’re dealing with currencies from different countries, you need a fast and easy way to convert it. You can keep the day’s Wall Street Journal around with you or turn to an app for small business. We’re talking about the Oanda Currency Converter, tailor made for those who handle cash in other countries’ denominations.
The Oanda Currency Converter works very simply. Just start it up, select the currency you’re about to take, and then select the currency you’re currently working in. Then apply the relevant modification rate, including the 2% credit card rate, the 4% cash rate, or an interbank rate between zero and ten percent. Then just fill in the numbers to have the conversion made automatically according to the current exchange rates as you receive them via wi-fi or 3G. For instance, if you’re out in Israel, and a vendor wants 15 New Shekels for that nice scarf, you’d need $4.35 US. You’ll even be able to perform conversions across ounces of four different metals: gold, silver, platinum and palladium.
I like how easy this app is to use. It’s as simple as punching a few buttons on your touch screen and turning your tab at an English pub into the appropriate amount in US dollars. Whether you’re the one doing the spending, or you’re on the receiving end, you always know how much money you need in one currency in order to pay your bill (or have your bill paid) in another. Sure, it’s nothing that Google can’t do, but you’ll be able to get this app into a lot of places where your laptop would be a lot less convenient. And, just for added value, it’s completely free. Plus it’s available for several different platforms, including iOS, Android, and Blackberry, so chances are your sidearm of choice will do just fine here.
Though one thing I dislike about it, for the best possible exchange rates, you’ll need to be near a wi-fi source, or in an area where 3G is available to you. Admittedly, there’s precious few places out there where one of the two isn’t available, and you’ll be reasonably accurate as long as you get at least one update in a day, but the requirement is a bit unsettling.
This is the kind of tool that small business people absolutely need if they’re going to be dealing in multiple countries’ currencies. Whether you’re on the road taking care of business or taking care of business at home with folks on the road themselves, you need a currency converter, and the Oanda Currency Converter is a powerful, simple to use tool that will keep your cash needs well in hand.
Score : ****