Where to exchange aud to usd
Currency Exchange Rates - How To Convert Currency
in this video we're gonna talk about how
to convert currency a given the currency
exchange rate so in this problem
John has 15 thousand US dollars that he
wants to convert into euros how much
money in Euros will he receive now we're
given the currency exchange rate or the
conversion factor one u.s. dollar is
equal to 0.9 euros so how many euros is
fifteen thousand US dollars so let's
convert it first start with what you've
given and we're going to write that
number on the numerator of a fraction
now in the next fraction we're going to
put the exchange rate in it we want the
unit u.s. dollars to cancel leaving
behind the unit euros so there's two
parts of this equation one US dollar and
point nine euros one of them will go on
the top of this fraction and the other
will go on the bottom the question is
which one now notice that we have u.s.
dollars on the top in the first fraction
in order for that unit to cancel we need
to put that same unit on the bottom of
the second fraction so we're gonna put
this part on the bottom part of the
second fraction which means the right
side of the equation has to go on top so
you want to set it in such a way that
these units will cancel if you do that
you're gonna get the right answer so now
because these two numbers are on top of
the fraction we need to multiply so it's
going to be fifteen thousand times 0.9
and so the answer is 13,500 euros so
that's how you can convert from US
dollars into euros now keep in mind the
currency exchange rate that you see here
it
just everyday so tomorrow that rate
might be slightly different than what
you see so if you're going to convert US
dollars into euros you need to find out
what the exchange rate is for that
current day so just keep that in mind
now let's move on to the next problem
Kim has 30,000 Canadian dollars that she
wants to convert into u.s. dollars how
much will she receive in u.s. dollars
now we're given the exchange rate of one
u.s. dollar is 1.3 one Canadian dollars
so using this information go ahead and
get the answer so let's start with what
we're given that is 30,000 Canadian
dollars and we're going to write this
over one now in the next fraction we're
going to write the two parts of our
conversion factor or the exchange rate
so the one u.s. dollar where should that
go and where should we put the 1.3 one
Canadian dollars shall we put the 1.3
one Canadian dollars on the top of this
fraction or on the bottom what would you
say so looking at the fact that we have
the unique Canadian dollars on the top
part of the first fraction we want to
put that same unit on the bottom part of
the second fraction keep in mind we want
the unit Canadian dollars to cancel
because you want to convert it to US
dollars so we want the other part of
that equation to be on top so our final
answer will be in u.s. dollars now
notice that this number is on the bottom
so for this problem we need to divide as
opposed to multiply like we did in the
first problem so when you're dealing
with fractions if you have a number on
the top of a fraction and one on the
bottom you need to perform division and
the last problem we had a number on top
in this case we need to perform
multiplication when didn't have two
numbers on top of a fraction
so to get this answer it's gonna be
30,000 divided by one point three one
and so Kim will expect to receive twenty
two thousand nine hundred and seventy
six cents so that's how much US dollars
she expects to receive let me put the
unit USD so that's it for number two so
now you know how to convert between
Canadian dollars and US dollars number
three
Lauren wants to buy a laptop online
store XYZ sells it for 350 GBP or
British pounds and store ABC sells at
for three hundred eighty five euros
given a currency exchange rate of one
GBP per euro which is one point sixteen
which store offers the best deal so feel
free to pause the video if you want to
take a minute and work this problem out
so what we need to do is we need to make
sure that both values are in the same
unit because then we can make a fair
comparison to find out which store
offers the best deal so let's convert
GBP into euros but now how do we work
with the exchange rate when it's in this
format so let's write down what we know
one the British pound per one euro is
one point sixteen that's what this
expression is saying now what I'm gonna
do is multiply both sides of this
equation by one year on the left side
the unit euros will cancel so what I'm
going to get on the left side is one GBP
and on the right side I multiplied these
two so this is going to be one point one
six euros or you can write it this way
so one British pound is equal to one
point one six euros now let's go ahead
and perform the conversion so we're
starting with 350 GPP I mean GBP and
we're going to convert that into euros
so we have 350 British pounds and this
is our conversion rate so because we
have the unit GBP on top we're going to
put that same unit on the bottom so this
part is going to go on the bottom of the
second fraction
and we're gonna put 1.16 euros on top so
these units will cancel this tells us
that we need to multiply because we have
the two numbers on the top of the
fractions so it's 350 times one point
one six and so that's gonna be four
hundred and six euros so now let's
compare store ABC and store XYZ store
ABC is selling the laptop for 385 euros
store XYZ is selling it for 350 British
pounds which when you convert it is 406
euros so this price is lower now that
the units are the same therefore store
ABC offers the best deal for the laptop
so Lauren if she wants to save money
wants to buy the laptop at store ABC so
that's it for this problem number four
Sally has 45,000 Canadian dollars that
she wants to convert into Australian
dollars given the currency exchange rate
of one US dollar per Canadian dollar is
one point three one and
one Australian dollar per US dollar is
0.68 five how much money should she
expect to receive in Australian dollars
so this is a double conversion problem
right now let's write out the conversion
factors that we have so let's start with
the first one one US dollar per one
Canadian dollar is equal to one point
three one so let's multiply both sides
by one Canadian dollar so these two will
cancel and we're going to get this
conversion factor one u.s. dollar is
equal to one point three one Canadian
dollars now let's adjust this one so one
Australian dollar per one US dollar is
equal to point six eight five so
multiplying both sides by one US dollar
those units will cancel so we get that
one Australian dollar which is on the
left side of the equation is equal to
point six eight five US dollars so we
have two conversion factors now Sally
wants to convert her money from Canadian
dollars into Australian dollars so what
we need to do is convert from Canadian
dollars to US Dollars first use in this
conversion factor and then we can
convert from US dollars to Australian
dollars using the second conversion
factor now in this problem we're not
given a direct conversion from Canadian
dollars to Australian dollars now you
can look this information up online if
you go to google and type in
see ad to AUD it will give you the
direct conversion but for the sake of
learning we're going to do the double
conversion in this problem so let's
start with 45,000 Canadian dollars and
as always we're going to write this over
one now in the second fraction we're
going to use this information so since
we see Canadian dollars on the top left
we're going to put that same unit on the
bottom right so that's going to be this
part of the first conversion factor and
then the other part of the exchange rate
is going to go on top so we can see that
the unit Canadian dollars cancels now
for the next fraction we're going to use
the exchange rate that we see here so
notice that we have u.s. dollars on top
we're going to put that on the bottom so
this part goes on the bottom of the
third fraction so that's going to be 0.6
eight five US dollars and that
corresponds to one Australian dollar so
the unit US dollars will cancel and we
can also cancel this dollar sign so
notice that these two numbers are on the
bottom of the second and third fraction
which means division so we're gonna
start with forty five thousand and then
we're going to divide by one point three
one since it's on the bottom that gives
us thirty four thousand three hundred
fifty one point one four five we're
gonna take that result and divide it
again by that number so divided by 0.6
eight five and you should get fifty
thousand one hundred forty seven dollars
and if you round it sixty six cents so
that's in Australian dollars
so that's the answer for number four so
now you know how to perform a double
conversion if needed now let's move on
to number five
Luke converts 70,000 u.s. dollars into
euros at an exchange rate of 1 euro per
US dollar which is one point one six
when the currency rate rises to one
point eight nine he changes his money
back into US dollars how much money did
Luke make from his currency trades so
first let's convert US dollars into
euros actually before we do that let's
adjust the information that we have here
so 1 euro per 1 US dollar is a dollar 16
so multiplying both sides by 1 USD those
units will cancel we have this
conversion so 1 euro is one dollar and
16 cents so the other conversion that we
have tells us that if we follow the same
process 1 euro is a dollar 89 so that's
the second exchange rate so Luke he's
going to convert 70 thousand US dollars
into euros using this first exchange
rate so let's do that so we have $70,000
over 1 and it's a dollar 16 per 1 euro
so as we could see the unit dollars
cancel and because this number is on the
bottom we're going to divide so let me
do that real quick 70 thousand divided
by 1.1 6 and that's gonna be
sixty thousand three hundred forty-four
euros and 0.83 if we round it so now
he's gonna convert that money back into
USD when the currency rate rises to one
point eight nine so now we're going to
use this conversion factor so let's
start with what he has in euros at this
point so we're gonna put that over one
and then we're going to use the second
exchange rate in this fraction so we
have the symbol euros on top we need to
put that same symbol on the bottom let
me write that better so we have one euro
corresponds to a dollar and eighty nine
so the unit euros will cancel and we're
gonna get the unit in dollars so this
time the two numbers are on top of the
two fractions so we need to multiply so
it's going to be sixty thousand three
hundred forty four point eight three
times one point eight nine and so this
is going to be a hundred fourteen
thousand fifty one dollars and 73 cents
so this is how much money he started
with in u.s. dollars and as a result of
his two currency trades he now has this
much money in euros dollars so his
current account value is a hundred
fourteen thousand and fifty one dollars
and 73 cents
he started with seventy thousand so the
amount of money that he made is the
difference between the two
which is 44,000 fifty one dollars and 73
cents so that's how much money Luke made
from his currency trades so that's it
for this video now you know how to
convert from one currency into another
and thanks again for watching
