Updated: Jan 06, 2022 12:25 UTC
How to Calculate Exchange Rate Between Two Currencies
We see forex rates all the time on our phones and financial news channels but, to a layman, what do they mean, how are they quoted, how are they calculated? When we say EURUSD is at 1.13, we mean, for every 100 Euros, you will get 113 U.S. dollars. Simple right? What if we say, how much Euros will you get for 100 U.S. dollars if EURUSD is 1.13? We will have to divide 100 U.S. dollars by 1.13 to g...