Step Five

Now that you understand about exchanging currency between nations, let's use this knowledge with a practical problem. The crew of Pride II will be visiting the ports of Hong Kong, Shanghai, and Tokyo. If a crew member wishes to exchange 50 American dollars for the currency in Hong Kong, China, and Japan, how many units of these nations' currency will the crew member have?

Since the crew won't have access to the Internet in Asia, crew members will have to use mathematics to calculate the currency exchange. How could this be done?

It's easy if one knows the exchange rate for dollars into another currency.

First return to the "Oanda Currency Converter." Find out the exchange rate for $1 to Hong Kong dollars, Chinese yuan, and Japanese yen. Then multiply that exchange rate by 50 to find out how many units of the foreign currency the crew member can get with his or her $50.

Start Back Ahead