Convert Euro to USD in Excel (2 Handy Methods)

If you are looking for some special tricks to convert Euro to USD in Excel, you’ve placed on the right article. Here, in this article, I will discuss some easy methods to convert Euro to USD in Excel. Let’s follow the complete guide to learn all of this.


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2 Effective Methods to Convert Euro to USD in Excel

Here, we will demonstrate how to convert EURO to USD in Excel. Let me first introduce you to the Excel dataset that I will use. Here, I have a dataset where the Product ID and the Price of each product are shown in terms of EURO. Now, we want to convert the price of each product from EURO to USD. Let’s walk through the steps to automate currency conversion.


1. Convert Euro to USD by Directly Multiplying with Conversion Rate

Here, in the first method, we will use simple multiplication formula to multiply the cell containing the EURO value with the value of the conversion rate. So, you will have to enter the conversion rate in a cell and will use this cell for reference. Now, the steps are described below with proper illustrations:

📌 STEPS: 

  • Firstly, make a table named “Conversion Rate” and input the conversion rate of EURO to USD in the table. Here, cell G6 contains the conversion rate of EURO to USD.

To get the current EUR to USD conversion rate, you can visit this page: https://www.bloomberg.com/quote/EURUSD:CUR

  • Copy the following formula in the cell D5:
=C5*$G$6
  • Then hit Enter.
  • After that, drag the Fill Handle icon to copy and paste the formula to other cells. You also can use Ctrl + C to copy and Ctrl + V to paste the formula.

Convert euro to USD by Direct Multiplication with Conversion Rate

Now, you will get the converted value in USD from EURO.

Convert Euro to USD by Directly Multiplying with Conversion Rate

Note:

Don’t forget to use Absolute Reference for the conversion rate in the formula.


2. Using External XML Source to Convert Euro to USD in Excel

Here, I will link to an external source file in Excel and then, we will automate currency conversion. For this, you will need this because the currency is changing regularly. To use the live conversion value, I need to link the Excel file to a webpage where the conversion rate updates always. To do this you have to follow the following steps.

📌 STEPS:

  • Firstly, go to the Data tab, then select the Get Data tab > From File option > From XML option.

Convert Euro to USD in Excel

  • Now, the Import Data window appears, and enter the following URL in the File Name. Then, click on Open.

URL:

http://www.floatrates.com/daily/eur.xml

  • Then, press on Transform Data.

Using External XML Source in Excel to Update Live Currency Value

  • After that, the Power Query Editor opens, then find the Item and click on Table.

Using External XML Source in Excel to Update Live Currency Value

  • Then, you will click on the arrow then press on OK.

Using External XML Source in Excel to Update Live Currency Value

  • Now, you will see this table which was imported from the webpage.

Using External XML Source in Excel to Update Live Currency Value

  • Here, you won’t need all the columns, so, you have to select the necessary columns only.
  • For this, go to Home > Manage Columns > Choose Columns.

Using External XML Source in Excel to Update Live Currency Value

  • Then, you will see a list of columns and mark only the columns you need. Check the screenshot and mark the columns which are selected here.

Using External XML Source in Excel to Update Live Currency Value

  • Next, you will return to Excel. For this, click on Close & Load.

  • As a result, you will get the exchange rate in the worksheet named ‘eur’.

Using External XML Source in Excel to Update Live Currency Value

  • Now, go to the worksheet where the data exist.
  • Then, insert the following formula in the cell C5

=VLOOKUP($C$4,eur[[#All],[item.targetCurrency]:[item.exchangeRate]],3,FALSE)*B5

Formula Description:

  • Here, C4 is the USD currency and the final argument is False.
  • And, The [[item.targetCurrency]:[item.exchangeRate]] is the lookup data, By which, it will search for USD in this data range from the ‘eur’ worksheet.
  • Lastly, the number 3 in the formula denotes index column 3, from where the exchange will be taken.
  • Finally, “*B5” is for the multiplication of this looked-up cell with the cell B5.
  • Now, Press Enter. you will get value converted to USD from EURO.

Using External XML Source in Excel to Update Live Currency Value

  • After that, drag the Fill Handle icon to copy and paste the formula to other cells. You also can use Ctrl + C to copy and Ctrl + P to paste the formula.

Using External XML Source in Excel to Update Live Currency Value

  • Now, you will get the converted value in USD from EURO.
  • At last, go to number format to use USD and EURO symbols in cells.

Using External XML Source in Excel to Update Live Currency Value

NOTES: 

  • XML Source: Extensible Markup Language (XML). The XML source reads an XML data file and populates the columns in the source output with the data. To learn more about XML sources in Excel go here.
  • To format the column cell as per currency, select the cells, and go to the top ribbon and Number Format. Then press on the drop-down sign beside the ‘$’ option. Lastly, select a suitable currency from the options

Convert Euro to USD in Excel


Download Free Euro to USD Converter

Download the following workbook which is a free Euro to USD converter. Just put your data and get them converted easily.

Look at the following image to get a brief idea.

Convert Euro to USD: Excel Template


Conclusion

In this article, you will find 2 quick and easy methods that automatically convert EURO to USD in Excel. And I believe, after reading this article you will learn how to convert EUR to USD. Also, you can download the practice workbook and practice it yourself. In addition to this,  I hope you found this article helpful. Importantly,  I am requesting you to visit our website ExcelDemy to learn more Excel-related content. Please, drop comments, suggestions, or queries if you have any in the comment section below.

Osman Goni Ridwan

Osman Goni Ridwan

I am Ridwan, graduated from Naval Architecture and Marine Engineering Dept, BUET, currently residing in Dhaka, Bangladesh. And my passion is to grow up my skillsets with industry demands. My prime goal is to be a data analyst as I do love to solve problems and play with data.

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