The Units/ 1 USD figure tells us how to convert one unit of the US currency to the foreign currency. The USD/ 1 unit figure tells us how to convert one unit of the foreign currency to the US currency. Note The banks also make a commission on every transaction, so they make even more money out of us! But to keep things simple we will ignore that. This is because you get one rate for changing from $US to the foreign currency and a different rate for changing back from the foreign currency to the $US. You will notice that there are two sets of figures for each country – the USD/ 1 unit and the Units/ 1 USD. But the following table (old data) will give you an idea of how currencies are converted: Currency Brown receives in each local currency will change from day to day. Brown uses his credit card to change money from USD ($US) to the local currency in each of the locations they visit.īecause currencies change all the time, the amount of money Mr. The Brown family are going to visit many different countries on their vacation.įrom their home in New York they travel to Toronto (Canada), London (England), Rome (Italy), New Delhi (India), Tokyo (Japan) and Sydney (Australia), before returning home across the Pacific. A current list of exchange rates (look up on the internet).In this activity, you will learn how to convert money between different currencies using an exchange rate table and a calculator.
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