convert currency exchange when price rate is in the denominator?
(Chimp, 7
Points)
on 11/28/12 at 4:01pm
Hi,
Can you help me figure out how to convert an exchange rate when the price rate is in the denominator? For example, gbp/usd 1.5
How can I convert this so the base price (gbp) is in the denominator?
Can you simply say 1.5 usd/gbp, or is there a calculation involved?
Thanks for answering my inane question! :)






cbaffa: Can you simply say
Can you simply say 1.5 usd/gbp, or is there a calculation involved?
That's not how fractions work.
1.5 GBP/USD -> 1 GBP = 1.5
1.5 GBP/USD -> 1 GBP = 1.5 USD
1/1.5 = 0.6667
0.6667 USD/GBP -> 1 USD = 0.6667 GBP
Thanks for the help,
Thanks for the help, inthe213!
..... how late are they
..... how late are they teaching algebra in middle school these days?
What on Earth.
What on Earth.
more impressed by how the guy
more impressed by how the guy who answered the question even understood what was being asked.
Thanks for the constructive
Thanks for the constructive comments from the positive respondents.
I think my question was misunderstood here. I was preparing for the first CFA test. I am completely self-taught when it comes to finance, and was very happy when I learned that I was among the 37% of people who passed the test this last December.