Exchange Rates

Exchange Ratesvideo

Exchange rates

Exchange rates are used to compare and convert between different currencies.

How do I convert between currencies?

• Start by writing the exchange rate

  • £1.00 (GBP) = €1.17 (EUR)

• To convert from GBP to EUR, multiply by 1.17

  • Because 1.00 × 1.17 = 1.17

• To convert from EUR to GBP, divide by 1.17

  • Because 1.17 ÷ 1.17 = 1.00

• To find £28 in Euros

  • 28 × 1.17 = €32.76

• To find €75 in Pounds

  • 75 ÷ 1.17 = £64.10 (to the nearest penny)