I'm confused about exchange rates?
For example, if I am converting CAD/USD (Canadian dollars to U.S dollars) and the exchange rates is 1.2, does that mean 1.2 CAD equals 1 USD or 1 CAD equals 1.2 1.2 USD?
Answers
Anjaree
Surely, 1USD=1.2 CAD. Just go to Yahoo exchange, to check the real rate of the day. It was 1USD=1.33CAD today.
Bone Alone
1.2 CAD = 1 USD. The listing shows how much of that country’s currency you would get. If you’re in an American airport and you see CAD 1.2 that’s how much CAD you have to trade in to get 1 USD. Japan might say 100 yen so 100 yen to get 1 USD.
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