What's The Formula For Calculating Exchange Rates?


9 Answers

Connor Sephton Profile
Connor Sephton answered
There is no specific formula given that all the exchange rates are different for different kinds of currencies. Furthermore, you will never be able to get a truly accurate number as the exchange rate changes all the time. There are a couple of things that you can do if you want to find out what the exchange rate is, or you want to convert an amount of money in one currency to another.

Firstly, just make use of the Internet. Google is a fantastic online search engine which is able to offer you some instant answers. As well as its 'define:' function, Google offers calculator and instant translation services when it comes to cash. Let's say you are trying to convert 10 UK pounds into US dollars. You would simply need type '10 pounds in dollars' into Google, and you should be provided with an instant answer under the search bar, just above all of the website results. This number will be based on the latest exchange rate number that has been found and hence for the time being you can rest assured that this is an accurate reading.

If you don't trust this, then there are places you can visit to find out. There are many bureau de changes located across the world, and many of them are found in travel stores. Simply go to your nearest mall or shopping area, and there should be a store that will be able to help you. Not only will they be able to sell you foreign currency but they will also be able to tell you the exchange rate that they are working from. This will give you time to find out which one is offering the best rate, and a chance to get your money converted whilst you are there.
Karl Sagan Profile
Karl Sagan answered

I don't usually convert one currency to another myself since I'm working with cryptocurrencies most of the time and the auto-trading applications that I use like Bitcoin Era system already picks up the changes in prices of currencies on the market, and I find it really convenient. I was tired of always googling the exchange rate in the past.

Anonymous Profile
Anonymous answered
$1.59/1E convert to Euro 1E/$1.59=.63E/$ then multiply by $75 to get 47.25E
John Maynier Profile
John Maynier answered
Knowing the US$ rate to the ZAR and the US$ rate to Pound Stirling how do I calculate the Rand to Pound rate
leo guo Profile
leo guo answered
1 Euro = 1.3986 US Dollar
1 US Dollar = 0.715 Euro
Due to the exchange rate is vary all the time, I recommend to you a website www.exchange9.com , which provides more than 150 countries and regions currency exchange, it is very useful.

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