What is Foreign Exchange?

*** A money problem of a different sort presents itself when you travel in foreign countries. Have you ever looked at a price tag that said, “63 francs,” “128 pesos,” “19 shillings” or something of the sort? You may have thought, “I wonder how much that is in my money?” An electronic calculator could come to your rescue. How?

Many calculators allow you to enter a figure as a constant. (Some even have a special key for it marked “K”) That lets you use the same figure repeatedly to multiply, divide, add or subtract. So once you’ve determined the exchange rate, you can enter it as a constant. Next, put in the price as given in pesos, dollars, marks, francs, pounds or whatever the foreign currency is. Then you use the constant to convert that to a price you can easily understand, in the currency you use back home.