Currency Conversion in Excel

The video tutorial provides a comprehensive guide on converting Brazilian reais to US dollars using Excel. It begins with a simple example, explaining the basic formula for conversion. The tutorial then progresses to more advanced techniques, including using Excel's functions to automatically update currency rates. The instructor, Professor Michel, also promotes his online Excel course, offering a discount for new learners.

What is the first step in converting Brazilian Reais to US Dollars in Excel?

• Find the current exchange rate online

• Open a new Excel spreadsheet

• Enter the amount in US Dollars

• Save the Excel file

How do you calculate the equivalent amount in US Dollars for a given amount in Brazilian Reais?

• Subtract the exchange rate from the amount in Reais

• Add the exchange rate to the amount in Reais

• Divide the amount in Reais by the exchange rate

• Multiply the amount in Reais by the exchange rate

Which website was used to find the exchange rate in the tutorial?

• Yahoo Finance

• Bloomberg

• Google

• Remessa

What should you do if you want to format the converted amount as US Dollars in Excel?

• Change the cell format to 'Text'

• Change the cell format to 'Currency' and select 'English (United States)'

• Change the cell format to 'Number'

• Change the cell format to 'Percentage'

What is the purpose of using named ranges in Excel for currency conversion?

• To reduce the file size

• To increase the speed of calculations

• To enable automatic updates

• To make the formula easier to read and manage

What is the correct formula to convert US Dollars to Brazilian Reais?

• Divide the amount in Dollars by the exchange rate

• Multiply the amount in Dollars by the exchange rate

• Add the exchange rate to the amount in Dollars

• Subtract the exchange rate from the amount in Dollars

What function in Excel can be used to automatically update the exchange rate daily?

• STOCKHISTORY

• VLOOKUP

• SUMIF

• CONCATENATE

What is the benefit of using the STOCKHISTORY function for currency conversion?

• It increases the speed of calculations

• It provides automatic and daily updated exchange rates

• It simplifies the formula

• It reduces the file size

What should you do if the exchange rate is not updating automatically in your Excel sheet?

• Re-enter the formula

• Change the cell format

• Check if the market is open

• Restart Excel

What is the main takeaway from the tutorial regarding currency conversion in Excel?

• Understanding how to create charts in Excel

• Understanding the basic and advanced methods for currency conversion

• Learning how to use Excel for text formatting

• Learning how to use Excel for data entry