No products in the basket.

How to develop live currency converter in Excel?

MS Excel based live currency converter is a simple and easy to use tool which converts currency from one exchange to another. You don’t need to download any additional application or visit a website. Excel downloads the currency data from the forex website (any of the websites which you will use in developing the tool) and keep refreshing the data on set interval.

Real Time Currency Converter
Live Currency converter in MS Excel

In this post, we are going to learn how to develop a fully automated real-time currency converter in Microsoft Excel. Using Power Query, we will extract the live currency data from the website freeforexapi.com and convert the data in required format for Currency Converter tool. You can use the same logic to get the data from any of the forex websites and connect to your Excel based utility tool.

If you are interested in developing this utility tool, then you can follow the below mentioned steps. In case you want to skip the development for the time being then you can download the sample tool from the download button available at the end of this post. Happy learning!

Creating Excel File and Connecting to forex website

1. Open Microsoft Excel Application and create a new blank workbook.

1. Blank Workbook
Blank workbook

2. Save the file with the name ‘Currency Converter’ with extension .xlsx.

1. Save the File

3. Click on Data Tab and under ‘Get External Data‘ group, click on ‘From Web‘ icon to connect and get the data from website.

3. From Web
Get data from web

4. In New Web Query window, enter the website name https://www.freeforexapi.com/ in Address field and then click on Import button to load and show the data in New Web Query window.

4. Enter Webisite name and click on Import
New Web Query

If you see any Script Error while importing the data then click on Yes button to run the script on this page. It may ask the same confirmation several times to run the script so that it can successfully connect with given website and load the data to ‘New Web Query’ window.

5. Error
Script Error

Once you see all the details in New Web Query window then click on Import button again to import the data from website to Excel worksheet.

5. Select the Existing Worksheet & provide cell address or New Worksheet option in ‘Import Data’ window to import the data in Excel Worksheet. We will set the properties later.

6. Import Data
Import Data

You can see the imported raw data from the given website in a sheet. This is single column table available in Column A.

7. Raw data in Sheet
Raw data

6. Rename the sheet from Sheet1 to Realtime Forex Data.

Sheet Name

Cleaning & Processing Data in Power Query

Now, we need to load the data in Power Query so that we can remove unwanted rows, clean the data and create required columns for our use.

Follow the below steps to to clean the data in Power Query.

1. First of all, we need to load the data to Power Query. To load the data, put your cursor on any of cell in Column A, click on ‘Data‘ tab and then click on ‘From Table‘ under ‘Get & Transform‘ group.

image 1
Load Table to Power Query

Once you click on ‘From Table‘ button, it will load the table available in Column A and open the Power Query window. You can see the below image.

image 2
Power Query

Currently, data have been loaded in Power Query in purely raw format. We need to clean this data and convert it into the below format.

image 3
Processed Sample Table

2. Let’s convert the raw data as shown in above snapshot. First of all, we need to change the name of Query from www.freeforexapi.com to Currency Table.

image 4
Query Name

3. Now, we need to remove unwanted Rows from the Currency Table. If you look at the table closely, you can see that Rows starting from 1 to 9 are unwanted row and we don’t need that.

To remove the top 9 rows, just click on Home Tab in Power Query then click on Remove Rows button and then select the first option from the drop-down i.e. Remove Top Rows. It will open a new window where you can enter the total number of rows required to remove from the top of the table. Enter 9 and then click on OK button.

image 5
Remove Top 9 Rows

4. As this table has only one column having currency name and currency value, we need to separate both the columns and separate these value in two different columns. To do this, we need to create a duplicate column of the existing one for further processing.

To make a duplicate column, just right click on column header and then select Duplicate Column from the pop-up menu (as shown in below snapshot).

image 6
Duplicate Columns

5. Now, you can see two columns in the table. Let’s convert the the data type of second column to Decimal. To do that, just right click on second column header and then click on Change Type and select Decimal Number.

image 7
Convert the data type of second column

6. After converting the data type of second column to Decimal Number, you can see that all the text values have been converted into error values. We need to replace the error value with null.

To replace the error values with null, just click on Transform tab then click on Replace Errors button. It will open a new window where you can provide the value as null and then click on OK. It will replace all the error values with null in second column.

image 8
Replace error values with null

7. Now, we need to update the currency value against the row number where Currency names are available. Currently, null is reflecting against currency name. To fill the null value with currency, we can use the feature Fill Up.

To Fill Up, just select second column header and then click on Transform tab and then on Fill drop-down and select Up from the options. All the null values will be replaced by the numbers available below.

image 9
Fill Up

8. Now, you can see that every alternate row of first column are blank. Here, we need to remove the alternate rows to clean this table.

To remove alternate rows from the table, just click on Home tab and then click on Remove Rows and from the drop-down options, select Remove Alternate Rows. It will open a window where you need to provide three inputs, e.g. First row to remove, Number of rows to remove and Number of rows to keep. Please see the below descriptions of all these input fields.

  1. First row to remove – Enter the row number(index or position) that you want to remove or you want to skip from.
  2. Number of rows to remove – Enter the number of rows you want to remove each time.
  3. Number of rows to keep – Enter the number of rows you want to keep.

Enter 2, 1, and 1 respectively as we need to start removing the record from Row Number 2 and then remove 1 row each time and keep 1 row after that. After entering the required row numbers, click on OK to process the request.

image 10
Removing alternate rows from the table where first column values are blank

9. If you will go to the end of the table, you can see null showing in the last rows of second column. We need to remove these rows where null are available.

image 11
second column with null values

To filter the rows having null value, click on drop-down button available on header of second column then click on Number Filters -> Does Not Equal… . It will open Filter Rows window. Just update null in the input field against the first filter option (does not equal) and then click on OK button to filter the table.

image 12
applying filter on second column of the table

10. Now, we need to split the first column value by the delimiter e.g. /. It will help us in converting first column into two columns From Currency Name and To Currency Name.

To split the column, click on the header of the first column and then select the Transform tab, click on Split Column drop-down and select By Delimiter. It will open a new window where you need to select –Custom– from the first drop-down (select or enter delimiter), then enter back slash (/) in next input field, select At each occurrence of the the delimiter from the Split Options and then click on OK.

image 14
Split the first column into two

Once you will click on OK button then it will split the first column into two columns as shown in below snapshot.

image 15
Split Columns

11. Now, we need to rename the header of all these three columns. Rename the column name from ‘Free Forex API.1‘ to ‘From‘, ‘Free Forex API.2‘ to ‘To‘ and ‘Free Forex API – Copy‘ to ‘Conversion Rate‘.

To rename the columns, just right click on the first column header and then enter the required name. Repeat the same activity for rest of the columns.

image 16
Rename column headers

Once, you will rename all these columns then headers name will be as shown in below image.

image 17
Renamed Columns

12. Now, we need to create a custom column “Key”. It will help us to lookup the currency conversion rate in MS Excel when user will convert the currency from one exchange to another.

To add a custom column, just click on Home tab then click on Add Custom Column button in General group. It will open a new window ‘Add Custom Column‘. Here, you need to provide the inputs for ‘New column name‘ & ‘Custom column formula‘. New column name would be ‘Key‘ and formula would be ‘[From]&[To]‘. After entering the required inputs, just click on OK button.

image 18
Custom column

Once, we will click on OK button then it will insert the Key column to the extreme right of the table. Here, we need to move the newly added column from the right side of table to the beginning of the table.

To move the column, just click on column header and while holding the mouse button, move the column to the left side of the table and release the mouse button (it’s like drag and drop). See the below image.

image 19
Reordered Column

Once, you complete the movement of column, your table will look like below image.

image 20
Final table

13. Now, we need one additional table with a single column i.e. ‘Currency Name’. This column will be utilized to create drop-down for ‘From’ and ‘To’ currency name field.

To create the new table, we will utilize the duplicate table features of Power Query. Right click on ‘Currency Table‘ in query section and then click on ‘Duplicate‘. It will create a duplicate copy of the Currency Table with the name Currency Table (2).

image 21
creating duplicate table
image 22
Duplicate table

14. Rename the duplicate table from Currency Table (2) to Currency. To do that, just click on ‘Currency Table (2)’ in query section and provide the new name under the properties of Query section. Enter the name ‘Currency’. I

image 23
Rename the Table
image 24

15. Now, we need to remove the unwanted columns from the Currency table and keep only one column having currency name value.

To remove the extra columns, just select the Currency in query pane and then right click on the column header ‘From’. From pop-up menu, click on Remove Other Columns. It will remove all the other columns and keep From column only in this table.

image 25
Remove other columns

16. Rename the column header from ‘From’ to ‘Currency Name’. To do that, just double click on the column header and then rename the column header to Currency Name.

image 26
Rename the column

17. If you closely observe the column, you can see duplicate currency name/code are reflecting. We need to remove all the duplicates value and keep unique in this colulmn.

To remove the duplicates, right click on Currency Name column and then select the Remove Duplicates from the pop-up menu. It will delete all the duplicate values available in column.

image 27
Remove Duplicates

18. Now, we have done with data cleaning and processing. Let’s load the data to Excel Sheet. To do that, just move to Home tab and then click on Close & Load button and select Close & Load under Query group. It will load both the table Currency Table and Currency in two separate worksheets.

image 28
Load data to Excel

Creating Name and Designing User Interface for Currency Converter

1. Let’s move to Excel file and select Currency worksheet. In this sheet, you can see a one column table which has all the available currency name/code. We need to define a Name in Excel so that we can utilize it while creating drop-down fields in Currency Converter User Interface.

To create a dynamic name, just press shortcut key CTRL + F2. It will open Name Manager window. In Name Manager, just click on New… button to create a new name.

image 29
Name Manager

It will open New Name window where you can define Name and provide the Refers To: value. In Name input box, enter Currency_Name and then in Refers to: field, enter to formula to select complete range of currency name starting from row 2 to end. This formula will keep adjusting the range basis on data availability. Use the below formula and then click on OK button. It will create a new name called Currency_Name.

=OFFSET(Currency[[#Headers],[Currency Name]],1,0,COUNTA('Currency'!$A:$A),1)
image 30
New Name

2. Now, we need to design the User Interface of Currency converter. To do that, just insert a blank worksheet and rename it to Currency Converter.

image 31
New Sheet added for Currency Converter UI design

3. Select columns A, B, D, F and G with mouse click while holding CTRL Key. After selecting the columns, right click on header and then click on Column Width…. It will open a pop-up window for Column Width. Enter the column width as 3 and then click on OK button.

image 32
Setting the Columns width

4. Follow the above step to set the column width of C and E. Width should be 35. Once you set the columns width, your Excel sheet will look like the below snapshot.

image 33
column width

5. Set the height of row number 4. To do that just right click on the header of Row 4 then click on Row Height…. In Row Height pop-up window, provide the height as 33 and then click on OK button.

image 34
set the row height

6. Merge the range B4:F4. To do that, just select the cell starting from B4 to F4 and click on Home tab then click on Merge & Center.

image 35
Merge the cells

7. Fill the merged cell with light blue color. To do that, just select the merged cells (B4:F4) and click on Home tab then click on Fill color bucket and click on Light blue color in color palettes.

image 36
fill light blue color

8. Enter the header in merged cell as ‘Real-Time Currency Converter’ using Font name, Barlow Condensed Thin, Font Size – 28 and Font formatting – Bold. You can select the font name, size and style Font group in Home tab.

image 38

9. Copy the icon which you have planned to use in Currency converter and then paste it to the right side of header (or as per your design).

image 39

10. Select the cell E6 and then enter the formula =Now(). Go to Home tab and select the font Bahnschrift Light, font size 9 and alignment Center.

image 40
Current date and time formula

11. Enter ‘From‘ in cell C7, ‘To‘ in cell C8 and ‘Value to Convert‘ in cell C9. Select the range starting from C7 to C9 and then click on Home tab and choose the fill color as Gold, Accent 4, Lighter 80%. Now, merge the cells C7 & D7, C8 & D8 and C9 & D9.

image 41
Headers and fill color

12. Select the cells E7 to E9 then click on Home tab and select Gold, Accent 4 as fill color.

image 43
fill color

13. Now, apply the border with white color on C7:E9. To do that, just select the range C7:E9 and then press shortcut key as CTRL + 1. In Format Cells window, click on Border and select style as simple line, color as white, click on Inside and then click on OK to apply the border.

image 44
Apply border

14. Select the cells C11 to E11 and enter the text header as ‘Result‘ and fill color as Gold, Accent 4, Lighter 80%. Apply border with simple line and color as Light Blue.

image 45
Creating header

15. Fill the cells C13, D13 and E13 with Light Blue color. Enter equal sign (=) in cell D14. Merge the range C15 to E15 and enter the text as ‘Converted Amount‘ with Font face Bold. Enter Row height as 31 for row number 16. Apply black color border on the range C13:E16.

image 46
Creating output fields and formatting

16. Apply 5 as row height for row number 12. Also, apply black and gold color border as shown in below image.

image 48

17. Let’s create a drop-down fields for From and To. To do that, just select cells E7 & E8 and then press shortcut key ALD + D + L to open the Data Validation window.

In Data Validation window, click on Setting tab then select List from Allow drop-down and in Source: field, enter the name which we have created for currency name i.e. Currency_Name with preceding equal sign (=) as show in below image. Once, you enter the name then click on OK button. It will create drop-down fields for both From and To.

image 49
Creating Drop-down for From and To currency name

18. Hide the row number 1 & 2 and some other rows and columns which are not required. Also, remove the gridlines from the worksheet.

Enter the formula in C13 to refer the selected currency name from ‘From‘ field. In E13, give the reference of currency name available in ‘To‘. Apply the formula to lookup the currency value based on Key from Currency table. Enter the formula in cell C14 so that it can validate whether From and To currency name are same or not. If both are same then the currency value would be the same which is available in E14 and if not then it would be 1. Apply formula to multiply the given amount in Value to convert (E9) with the currency value available in E14.

List of formulas:

C13 -> =$E$7

E13 -> =$E$8

C14 -> =IF(E8=””,””,1)

E14 -> =IFERROR(IFERROR(VLOOKUP($E$8&$E$9,’Currency Table’!$A:$D,4,0),VLOOKUP($E$8&”USD”,’Currency Table’!$A:$D,4,0)*VLOOKUP(“USD”&$E$9,’Currency Table’!$A:$D,4,0)),””)

C16 -> =IFERROR($E$10*$E$15,””)

image 50
Formulas with sample data

19. Once you done with entering the formulas, your currency converter will look like as show in below image. You can see the converted value of 1800 USD is available in Cell C16.

image 51
Currency Converter

Set the refresh frequency

To set the refresh frequency of forex data, just move to Realtime Forex Data sheet, right click on any of the cell in Column A and from pop-up menu, select Data Range Properties… . It will open External Data Range Properties window where you can set several properties. Here, we need to focus only on Refresh every field. Just provide 1 as input so that it can refresh the data on every 1 minute. You can set the time as per your requirement tool. After input the time, click on OK.

image 52
Refresh time interval

This is all about creating a Currency Converter with the help of Excel and Power Query. If you have any question or feedback, please leave a comment below. We will go though the comment and reply as soon as possible. Thanks!

Please watch YouTube tutorial.


Please download the sample file after click on below button.

Click to download

Disclaimer: This post is only for educational purpose. We have used the website https://www.freeforexapi.com/ to extract the forex data that is only for demo purpose to show how can we connect and import the data from a website. TheDataLabs team is not responsible for any type of errors, delay in data refreshing or data discrepancies and licensing issue.


Please enter your comment!
Please enter your name here

Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Recommended Reads

Latest Articles