Exchange Rates

EXCHANGE RATES

Example 1 | Example 2 | End of Page


Exchange rates are used to calculate the value of a unit of currency in a different country.

Examples:


1. Pam is going on a trip to Texas and has $250 Canadian Dollars (CND) . If the exchange rate is 1 CND = .6733 USD how much American money will she be able to get? a) Set up the equation 1 CND = .6733 USD b) Multiply both sides by $250 1 CND (250) = .6733 USD (250) $250 CND = $168.325 USD Pam will have $168.33 American Dollars from her $250 Canadian Dollars
2. Jason just got back from a trip to France and has 132 francs left over to change back to Canadian Dollars. If the exchange rate is 1 franc = 0.2135 CND how much money will he get? a) Set up the equation 1 franc = 0.2135 CND b) Multiply both sides by 132 1 franc (132) = 0.2135 CND (132) 132 francs = $28.187 Jason will receive $28.19 from his 132 francs. Related Sites: