Surely having a hand on the pulse of the currencies exchange rates is vitally crucial for every Forex trader. Basically this is from what the trader is making the money - from buying a currency at one price and selling it at another price - more profitable for the trader.

Due to this the importance of competent foreign exchange rate tools cannot be overestimated.

This issue has been already discussed in this post - Yahoo Currency Converters. But this Yahoo instrument is more for the people who are not using any trading platform provided by some broker.

This can raise the question - then why using tools like this? One of the criteria was mentioned in the quoted post - your brokers are showing you THEIR currency exchange rates, not the ones that exist on the real internbank. Which means you are looking on the market with their eyes. Whereas it would be better to do that with your own eyes.

All currencies Forex exchange rate - full version of my post.