MONEY This lesson will teach how to use exchange rates.

What is an Exchange Rate? In finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. It is the value of a foreign nation’s currency in terms of the home nation’s currency.

Step 1- Pick the foreign currency you would like to exchange United Kingdom Pound Mexican Pesos Canadian Dollar Japanese Yen European Euro

Step 2- Figure out the Exchange Rate If you are not given the exchange rate then you can find it on the internet by googling: Exchange Rate.

Step 3- Determine How much you would like to exchange

Step 4- Plug into the following Formula $$$$ * Exchange Rate= Amount of Foreign Currency Examples: – $150 *.73 = Euros – 100 pounds = $66

You want to have at least 100 pounds per week to spend in a four week vacation to the United Kingdom. How much do you need to save before your trip? A.$650$650 B.$400$400 C.$600$600 D.$550$550 Exchange Rate- 1 pound = $1.5

How many American Dollars would I need to save up if I want to have 500 Euros when I visit Paris? A.$650$650 B.$700$700 C.$685$685 D.$635$635 The Exchange Rate is $1.00 =.73 Euro

I Have $300 to take on a trip to Canada, how many Canadian Dollars will I have to spend? A B C D

If I have 5000 pesos, how many American Dollars would I have? A.$ B.$ C.$ D.$ Exchange Rate- 1 peso =.08 Dollars