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.
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.
Country
Currency
Exchange rate for British pounds
Denmark
Kroner
10.38
Japan
Japanese yen
190.49
South Africa
Rand
19.33
Switzerland
Swiss franc
1.46
Eurozone
Euro
1.39
United States
Dollars
1.55
Country
Denmark
Currency
Kroner
Exchange rate for British pounds
10.38
Country
Japan
Currency
Japanese yen
Exchange rate for British pounds
190.49
Country
South Africa
Currency
Rand
Exchange rate for British pounds
19.33
Country
Switzerland
Currency
Swiss franc
Exchange rate for British pounds
1.46
Country
Eurozone
Currency
Euro
Exchange rate for British pounds
1.39
Country
United States
Currency
Dollars
Exchange rate for British pounds
1.55
To convert from British pounds to a foreign currency, you multiply by the exchange rate.
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?
The exchange rate for South African rand is 19.33.
250 脳 19.33 = 4,832.50 rand.
To convert from a foreign currency to British pounds, you divide by the exchange rate.
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?