Converting Currency 90%

Currency exchange rates are constantly fluctuating. How might this affect the currency exchange plans of a traveler who plans to spend several thousand dollars as they travel over a period of two months?

A traveler who plans to spend several thousand dollars as they travel over a period of two months may experience a shortage, or lack, of a country's currency due to constant fluctuation of the currency exchange rates. If the rates go up, the individual may not be able to afford major travel expenses like meals and lodging. It may limit their ability, also, to pay admission fees for tourist attractions or purchase souvenirs as a memory of their trip.

What conversion factors are used in the Currency Calamity activity?

Currency Calamity activity are the cost of euros and the cost of euros that equal to U.S dollars.

If you can exchange 104.51 US dollars for 1,322.14 Mexican pesos, what is the exchange rate of the US dollar to the Mexican peso, to three decimal places? a. 1:12.650 b. 1:1.427 c. 1:0.079 d. 1:0.008

NOT: c. 1:0.079

Hillary has just returned to the United States from a trip to northern Europe, where she visited Sweden and Finland. The table below shows some of the purchases and expenses she had before and during her trip, as well as their costs. The transactions took place in US dollars ($), euros (€), or Swedish krona (kr, plural kronor). During Hillary's trip, the exchange rate of US dollars to euros was 1:0.7936, and the exchange rate of euros to Swedish kronor was 1:10.1069. How much did Hillary spend in total, measured in US dollars? Round all currency values to two decimal places. a. $1,139.51 b. $1,199.82 c. $1,248.93 d. $2,016.51

a. $1,139.51

Christopher has just returned to the United States from a trip to Singapore and Australia. He is looking over his records of the money he spent on his trip. The following list shows items and expenses Christopher paid for before and during his trip, as well as whether the purchase took place in US dollars (US$), Singapore dollars (S$), or Australian dollars (AU$). When Christopher was on his trip, the exchange rate for US dollars to Singapore dollars was 1:1.3914, and the exchange rate for Singapore dollars to Australian dollars was 1:0.7786. How much did Christopher spend in total, measured in US dollars? Round all currency values to two decimal places. a. $1,517.89 b. $1,526.19 c. $1,809.35 d. $2,776.72

a. $1,517.89

Sharon is preparing for a trip to Kuwait. She calculates that she will need $1,166 to be converted to Kuwaiti dinar. If the exchange rate of US dollars to Kuwaiti dinar is 1:0.2879, how many dinar does Sharon have? Round your answer to two decimal places. a. 335.69 dinar b. 405.00 dinar c. 3,356.91 dinar d. 4,050.02 dinar

a. 335.69 dinar

Which of the following statements give a valid reason why the currency exchange you plan ahead of time might not be wholly accurate? I. Currency exchange rates fluctuate, so the actual rates could be different from the planned rates. II. Many currency exchange services charge a fee or surcharge, which differs from service to service. III. Taxes in different countries may cause the amount of money you actually receive to change. a. I and II b. II and III c. III only d. I, II, and III

a. I and II

A certain book is for sale in both Belize and Brazil. In Belize, it sells for 80.39 Belize dollars. In Brazil, it sells for 63.65 Brazilian reals. The exchange rate of US dollars to Belize dollars is 1:1.9246, and the exchange rate of US dollars to Brazilian reals is 1:1.7880. When converted into US dollars, which country sells the book at a more expensive price, and how much more expensive is it? Round all currency values to two decimal places. a. The book costs $6.17 more in Belize than in Brazil. b. The book costs $11.89 more in Brazil than in Belize. c. The book costs $16.74 more in Belize than in Brazil. d. The book costs the same amount in both countries.

a. The book costs $6.17 more in Belize than in Brazil.

Geoffery went on a trip across South America. He took 1,750 US dollars (USD) with him. In Chile, he traded his money for Chilean pesos (CLP) at a rate of USD:CLP = 1:496.5000. He spent 217,513 pesos before he went to Venezuela. In Venezuela, he traded his Chilean pesos for Venezuelan bolivars (VEF) at a rate of CLP:VEF = 1:0.1283. During his time in Venezuela, he spent 38,422.19 bolivars. At his next stop, Paraguay, he traded his Venezuelan bolivars for Paraguayan guarani (PYG) at a rate of VEF:PYG = 1:1063.9500. He spent 12,857,441.39 guarani before returning to the United States, where he traded his Paraguayan guarani for US dollars at a rate of PYG:USD = 1:0.00002186. How much money did Geoffery have remaining, in US dollars? Round all currency values to two decimal places. a. $1,353.13 b. $768.98 c. $662.60 d. $281.06

b. $768.98

Gary is looking over his receipts from his trip to Europe. When he was in Germany, he exchanged US dollars for euros at a rate of 1:0.7716, and when he was in Poland, he exchanged euros for Polish zloty at a rate of 1:4.0518. To four decimal places, what was the exchange rate of US dollars to Polish zloty? a. 1:0.3199 b. 1:3.1264 c. 1:4.8234 d. 1:5.2512

b. 1:3.1264

The exchange rate between non-fixed currencies continuously fluctuates. The table below shows the exchange rate of the US dollar to the euro over the course of six days. If Rodney traded €228.75 for $314.52, when did he make his exchange? a. Saturday b. Friday c. Thursday d. Tuesday

b. Friday

The exchange rate between non-fixed currencies continuously fluctuates. The following table shows the exchange rate of pounds sterling to the Israeli new shekel (plural shekalim) over a period of six days. Nate has £88.65 to convert into shekalim. The currency exchange he is using charges an 8% surcharge when converting currency. About how many more shekalim will Nate receive if he makes his trade on the day with the most favorable exchange rate than if he makes his trade on the day with the least favorable exchange rate? a. INS 41.69 b. INS 38.35 c. INS 31.68 d. INS 6.67

b. INS 38.35

The exchange rate between non-fixed currencies continuously fluctuates. The table below shows the exchange rate of the US dollar to the euro over the course of six days. Sandy has $829.04 to convert into euros. How many more euros would Sandy have if she made her trade on the day with the most favorable exchange rate than if she made her trade on the day with the least favorable exchange rate? Round all currencies to two decimal places. a. €33.49 b. €55.96 c. €67.04 d. €107.99

b. €55.96

You know that the current exchange rate for US dollars (USD) to Indian rupees (INR) is 1:45.85, that the exchange rate for Indian rupees to Bangladeshi taka (BDT) is 1:1.507, and that the exchange rate for Bangladeshi taka to Myanma kyat (MMK) at a rate of 1:0.0928. Which of the following equations is set up properly to calculate the exchange rate from US dollars to Myanma kyat?

c

Jessica is planning a trip to South Africa. The following table shows some of her planned expenses for this trip, and whether these expenses are in US dollars ($) or South African rands (R). If the exchange rate of US dollars to South African rands is 1:7.4094, what is the current total of Jessica's budget, in US dollars? Round all currencies to two decimal places. a. $763.54 b. $791.86 c. $973.39 d. $1,001.71

c. $973.39

Kari is on a trip to Italy. She has made a list of cities she would like to tour while she is there, as well as how much she expects it will cost her (between transportation, admission, souvenirs, and so on) to see each one. The prices are listed in either US dollars ($) or euros (€). Kari has a budget of $585 set aside for sightseeing. She would also like to tour Genoa as well, which would cost her €60.85. If the conversion rate of US dollars to euros at the time of Kari's visit is 1:0.6859, how will this affect her budget? Round all dollar values to the nearest cent. a. Kari can see Genoa and have $60.33 left in her budget. b. Kari can see Genoa and have $41.38 left in her budget. c. Kari has almost exactly enough left in her budget to see Genoa. d. Kari cannot afford to see Genoa, because it would put her $84.48 over budget.

c. Kari has almost exactly enough left in her budget to see Genoa.

The exchange rate between non-fixed currencies continuously fluctuates. The following chart shows the exchange rate of the pound sterling to the Japanese yen over a period of six days. Tina has £72.90 to turn into yen. How much greater is the amount of yen she would receive if she made her trade on the most favorable day than if she made her trade on the least favorable day? Round to the nearest whole yen. a. ¥172 b. ¥317 c. ¥819 d. ¥1,104

c. ¥819

Tom is exchanging money for his trip to India. The exchange rate of US dollars to Indian rupees is 1:45.897. Tom needs 11,550 rupees. The currency exchange he is using charges a 7.25% surcharge on any such transactions. How many US dollars will it cost Tom to get the rupees he wants? Round to the nearest dollar. a. $235 b. $252 c. $270 d. $271

d. $271

Rob is going over his currency exchange receipts from his trip to Japan and South Korea. When he was in Japan, he exchanged US dollars for Japanese yen at a rate of 1:87.441, and when he was in South Korea, he exchanged Japanese yen for South Korean won at a rate of 1:12.395. To three decimal places, what was the exchange rate of US dollars to South Korean won? a. 1:0.092 b. 1:7.055 c. 1:99.836 d. 1:1,083.831

d. 1:1,083.831

Jun, who lives in the United States, is on a trip to South America. He is going first to Argentina, where the currency is the Argentine peso ($), then to Bolivia, where the currency is the Bolivian boliviano (Bs.). As he is traveling from Argentina to Bolivia, he finds that he has the equivalent of US $671 in pesos, which he wishes to convert to bolivianos. If, at the time of Jun's exchange, the exchange rate of the US dollar to the Argentine peso is 1:3.8056 and the exchange rate of the Argentine peso to the Bolivian boliviano is 1:1.8903, how many bolivianos does Jun have? Round all currencies to two decimal places. a. 93.28 Bs. b. 1,268.39 Bs. c. 2,553.56 Bs. d. 4,826.99 Bs.

d. 4,826.99 Bs.

Hector is on a trip to Japan. The table below outlines some of the fun things he would like to see and do while on his trip, as well as their estimated costs, either in US dollars ($) or Japanese yen (¥). Hector has $575 budgeted for expenses like this. Hector would also like to see a professional sumo tournament while he is there, which would cost him ¥5,488. If the conversion rate of US dollars to Japanese yen is 1:94.153 at the time of Hector's trip, how will this affect his budget? a. Hector can see the sumo tournament and have about $322 left over. b. Hector can see the sumo tournament and have about $86 left over. c. Hector has exactly enough left in his budget to see the sumo tournament. d. Hector cannot afford to see the sumo tournament, because it would put him over budget by almost $12.

d. Hector cannot afford to see the sumo tournament, because it would put him over budget by almost $12.

The exchange rate between non-fixed currencies continuously fluctuates. The following chart shows the exchange rate of the pound sterling to the Japanese yen over a period of six days. If Grace traded ¥34,712 for £242.73, on what day did she make her exchange? a. Monday b. Tuesday c. Thursday d. Saturday

d. Saturday