How to know the value of a foreign currency

Know the value of a foreign currency

Each foreign currency has a different value compared to US dollars. The amount of a currency equal to one dollar is the foreign currency exchange rate. The exchange rate can also be known when the exchange rate shows how many dollars are equal to one unit of another currency. In this way, people can find the value of a coin. Foreign currencies are used both in other countries and in speculative trading.

Also read: What is FOREX and how does it work?

Determine which currency you want to find the value of. For example, an investor wants to know the value of the euro in relation to the US dollar.

Determine the amount of money that you would like to know the value of in another currency. In the example, the investor wants to know the value of 200 euros in US dollars.

Search on Yahoo!, Bing or Google, “Amount of coin 1 to coin 2”. Like a normal search, several Internet sites will appear, but unlike the same, each search engine will convert one currency into another using the current exchange rate. Replace “Amount” with the amount you want to convert, “currency 1” with the currency you’re converting, and “currency 2” with the currency you’re converting to. In the example, enter “200 euros to USD (United States dollars)”. Every search engine will return a result that should look like “200 Euros = 247.7400 US dollars”. Therefore, 200 euros has the same value as $247.74.

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