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Interpreting is a word to word translation of a spoken language. This has to be done face to face or via phone, whereas translating is a word to word translation of a written language.Interpreters work on projects which is live like conferences, appointments, sign language, meeting, courts etc. Translators work on information in written like documents, websites, video subtitles etc

These are few distinctions that differentiate between interpreter and translator

Accuracy

Interpreters have to know both source language and target language fluently because they translate in both directions instantly.

Translators are relaxed because they can use a third party to help them with the translation like a computer, or a person who knows the source language. They usually work in one direction, which is translating source language into their mother tongue

Time

Interpreters have limited time for translation, because they translate on the spot, whereas translators have much longer to translate the documents.

Grammar

Grammar mistakes within a spoken phrase can be accepted in certain circumstances where the meaning of the stated phrase is not affected. This could be due to time limits, venue or situation. Whereas translators have to make sure that there are no spelling mistakes, use the correct form of vocabulary and the grammar.

Are they any similarities?

Of course, they are, both interpreters and translators work with a source language and a target language.

Both professions only work into their mother tongue.

Both require professional qualifications and/or accreditations.