Question

Write a paragraph that explains why a traveler will need to visit a currency exchange. Include how exchange rates are determined.

Answer 1

A. You have $25 in the United States. Imagine you are visiting India in 2013 to check out new products. How much would your $25 be in Indian rupees? (Be sure to show your work.)

B. You read a news article about a great new invention in Canada. You think maybe you want to visit Canada instead of India in 2013. How much would your $25 be in Canadian dollars? (Be sure to show your work.)

Answer 2

helppp pleaseee

Answer 3

A or b is choices?

Answer 4

no its like a part A and part B

Answer 5

oh ok ill try

Answer 6

ok thanks

Answer 7

25 = ₨ 1695.00

Answer 8

$ 25 = $ 33.8475

Answer 9

A. The 25 dollars in American money converted to Indian is Rs 1695.00.

Answer 10

B. The 25 dollars in American money converted to Canadian money is $33.8475

Answer 11

thanksss

Answer 12

Medal?

Answer 13

oh sorry there ya go

Answer 14

lol thanks but gtg fr

Answer 15

ok bye bye

Answer 16

@pooja195 could you maybe help with the paragraph???

Answer 17

Just say something in the lines of "The currency of money is not the same in every country. Different countries have a better economy which makes the value of one dollar in each country different. Currency exchange allows you to convert the money you have in your country to a different currency."
Something in the lines of that is fine. You can add examples like to convergence of US dollars to EURO.

Answer 18

oh wow thanks

Answer 19

Money is only good if people accept it. If you're in the US and someone hands you a Euro, then you won't be able to use it. Why not? Because the Euro isn't a currency in the US. Sure some people might collect them, but for the most part, it won't be able to be used to trade for goods or services.

So that's why you have to exchange currencies when going to foreign countries. When you exchange currencies, you're basically buying money. If you see, for instance, that 2 Euros = 1 dollar, then that means it costs you 1 dollar to get 2 euros. The same would be true in reverse. So you can see how the dollar is a stronger currency. You can buy more for less. The reason for the exchange rate fluctuating is complicated. Economists don't fully agree even to this day. Though supply and demand is a big factor. The more people want the US dollar, the stronger it gets. The stronger it gets, the harder it is to get (ie, the more expensive it gets). If a disaster happens in a country, then that currency would take a hit. For example, this current election has made the mexican peso decline because people fear that the US will cut some trade ties with Mexico, making the peso less valuable

Answer 20

There's a lot more to the story than those examples, but hopefully you can get a better idea of how it works

Answer 21

wow thats alot lol

Answer 22

oh and the `2 Euros = 1 dollar` was something I made up. You'll need to look up the exchange rate. It changes daily (possibly more frequently)

Answer 23

no problem

Answer 24

thanks