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 Replies: 7 / Views: 1,973 |
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Pillar of the Community
United States
1767 Posts |
Help me understand/read currency exchange rate. Since my start of collecting world currencies I realized I also need to understand and be able to read currency exchange rates. Below is a sampled conversion of 10.00 AUD to 8.83174 USD, but I don't quite understand how to read it. [I think]   As I see it, does this mean if I had a 10.00 AUD note and I wanted to exchange it for USD I would get $8.83 for it? Thanks, mila_ |
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Moderator
 United States
6563 Posts |
Correct
1 Aussie $ = 83 cents
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Moderator
 Australia
16849 Posts |
quote:
1 Aussie $ = 83 cents
Um, you mean "88 cents", don't you, GO?  Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Moderator
United States
6563 Posts |
The conversion rate just changed when I typed it so for a split second....I was right
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Pillar of the Community
 United States
1767 Posts |
Thank you Sap & GO for helping me. I thought I was wrong.
Next Lesson: Would it be the same if it was the other way around?
USD for AUD?
Thanks again,
mila_
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Moderator
Australia
16849 Posts |
Yes. According to your pic above, US$1.00 = AU$1.13228, so if you hand over US$10, we'll give you AU$11.32 (well, $11.30 - we gots no 1¢ or 2¢ coins no more). Note that in real life, there's a "buy price" and "sell price" for every currency. The moneychangers have to make a profit somewhere. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
1767 Posts |
quote:
Note that in real life, there's a "buy price" and "sell price" for
every currency. The moneychangers have to make a profit somewhere.
Yes Sap, I understand that. Thanks, mila_ |
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Moderator
United States
23543 Posts |
When I started collecting Australian Coins the Australian dollar was worth 69 cents US so the buys were quite good.
Now that the US dollar is declining, the buys are not as great.
But I am grateful for all the nuggets (size does not matter)
that I purchased before GOLD jumped a s high as it is now..
This does make my purchase of future nuggets less often
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Replies: 7 / Views: 1,973 |
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Posted 12/02/2007 01:31 am
