Euro to US Dollar
About exchange rates
An exchange rate states how much of one currency you get for one unit of another. A rate of 1 EUR = 1.08 USD means one euro costs 1.08 dollars.
The ECB publishes reference rates once per banking day. They serve as a benchmark for contracts and accounting, but the price you pay in a shop or bank always includes a markup.
Conversion between two non-euro currencies goes through the euro as an intermediate step, known as a cross rate.
Rates are European Central Bank reference rates, fetched via Frankfurter, updated every banking day around 16:00 CET. Banks and exchange bureaus add a margin, so the price you get is somewhat worse.