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Foreign money and exchange rates - WJECExchange rates from 拢1

When going abroad you need to change money to the currency of the country you are visiting. It is important to know the exchange rate and amount of commission charged to get the best possible deal.

Part of Maths Numeracy (WJEC)Number

Exchange rates from 拢1

The currency of the United Kingdom is the British pound, or pound sterling. When we refer to foreign currency, we mean the money that a different country uses such as baht in Thailand or rupees in India.

Not all currencies have the same value. We use exchange rates to convert from one currency to another.

Exchange rates are published in newspapers and online where the pound is matched against various currencies. This table shows examples of exchange rates but they change constantly to reflect the current economy.

CountryCurrencyExchange rate for British pounds
DenmarkKroner10.38
JapanJapanese yen190.49
South AfricaRand19.33
SwitzerlandSwiss franc1.46
EurozoneEuro1.39
United StatesDollars1.55
CountryDenmark
CurrencyKroner
Exchange rate for British pounds10.38
CountryJapan
CurrencyJapanese yen
Exchange rate for British pounds190.49
CountrySouth Africa
CurrencyRand
Exchange rate for British pounds19.33
CountrySwitzerland
CurrencySwiss franc
Exchange rate for British pounds1.46
CountryEurozone
CurrencyEuro
Exchange rate for British pounds1.39
CountryUnited States
CurrencyDollars
Exchange rate for British pounds1.55

To convert from British pounds to a foreign currency, you multiply by the exchange rate.

Formula for converting foreign money and exchange rates 拢1 = 鈧1.39 (x 1.39)

Example

拢20 脳 1.39 = 鈧27.80.

Question

Emma is going to South Africa and wants to exchange 拢250. Based on the table above, how many rand should she get?

To convert from a foreign currency to British pounds, you divide by the exchange rate.

Formula for converting foreign money and exchange rates 拢1 = 鈧1.39 (梅 1.39)

Example

鈧278 梅 1.39 = 拢200.

Question

Emma returns from South Africa with 85 rand. How much is this worth in British pounds?