1.5 - Currency Exchange Review

The price of one country‛s currency in terms of another

country‛s currency. Is the definition for:

• Currency conversion
• Exchange rate
• Monetary policy
• Foreign exchange

Sarah is a photographer who runs her own business. She often travels to the UK to purchase equipment. Before her trip, she exchanges $300.00 CAD into GBP for personal spending. If one CAD is worth 0.60025 of a GBP, how many GBP will Sarah get in exchange for $300.00 CAD?

Mathematical Equivalence

ON

Tom is a software developer who frequently travels to Japan for business meetings. Before his trip, he converts $600.00 CAD into Japanese yen for personal expenses. If $1 CAD is worth 95.4911 Japanese yen, how many Japanese yen will Tom receive in exchange for $600.00 CAD?

Mathematical Equivalence

ON

Lena bought $700.00 CAD worth of equipment from Germany for her workshop. If the exchange rate is one Canadian dollar to 1.46035 euros, how many euros will Lena receive for $700.00 CAD?

Mathematical Equivalence

ON

If the exchange rate for converting a Canadian dollar to the British pound is 0.5625 on a particular day, how many British pounds would you get for $400.00 CAD?

• £150.00 GBP
• £300.00 GBP
• £180.00 GBP
• £225.00 GBP

If the selling rate of the Swiss franc is 1.22550 and the buying rate is 1.21500, how much would you lose if you bought and then sold $500.00 on the same day?

Mathematical Equivalence

ON