Foreign Currency Exchange (Junior Cert Business Studies): Quizzes
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Practise the questions
13 questions from this quiz
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Practise the questions
13 questions from this quiz
What is foreign currency exchange?
What is foreign currency exchange?
A service to convert money between currencies
Why do you need foreign currency exchange when travelling abroad?
Why do you need foreign currency exchange when travelling abroad?
To pay for purchases in that country
What is an exchange rate?
What is an exchange rate?
Current value of one currency vs another
Which of these offers foreign currency exchange services?
Which of these offers foreign currency exchange services?
An Post
Where are bureau de change commonly found?
Where are bureau de change commonly found?
Airports and tourist areas
When do you use the 'we sell' rate?
When do you use the 'we sell' rate?
Converting euros to foreign currency
When do you use the 'we buy' rate?
When do you use the 'we buy' rate?
Converting foreign currency to euros
How do you convert euros to foreign currency?
How do you convert euros to foreign currency?
Multiply euros by the 'we sell' rate
How do you convert foreign currency to euros?
How do you convert foreign currency to euros?
Divide foreign amount by 'we buy' rate
€1,000 × 1.5 'we sell' rate = ?
€1,000 × 1.5 'we sell' rate = ?
AUD $1,500
$200 AUD ÷ 1.48 'we buy' rate = ?
$200 AUD ÷ 1.48 'we buy' rate = ?
€135.13
What is a commission in foreign currency exchange?
What is a commission in foreign currency exchange?
A fee charged for the exchange service
Why do institutions have different buy and sell rates?
Why do institutions have different buy and sell rates?
To make a profit on transactions