Calculate what exchange was used
- Thread starter kiwis
- Start date
Dr.Peterson
Elite Member
- Joined
- Nov 12, 2017
- Messages
- 16,722
Suppose you knew the exchange rate. How would you find one of these, given the other? Show me an example.
Then reverse that. Let me see what you tried.
Be sure to read and follow our guidelines:
Then reverse that. Let me see what you tried.
Be sure to read and follow our guidelines:
Posting Guidelines (Summary)
Welcome to our tutoring boards! :) This page summarizes main points from our posting guidelines. As our name implies, we provide math help (primarily to students with homework). We do not generally post immediate answers or step-by-step solutions. We don't do your homework. We prefer to help...
www.freemathhelp.com
D
Deleted member 4993
Guest
What are these two values referring to?
Are these prices of same object, in two different currencies?
Dr.Peterson
Elite Member
- Joined
- Nov 12, 2017
- Messages
- 16,722
It's conceivable that there could be more than just an exchange rate involved here; even assuming they are the price of the same object in the two currencies, one might include an extra fee or a tax or something. (I'm only speculating worst case, here.) So SK's question is appropriate.
But if we assume they are really the same amount before and after applying a rate, we still have to know which direction the OP wants the rate for! This, plus encouraging thinking, is why I started with questions, too.
But the basic answer is one word: divide.
But if we assume they are really the same amount before and after applying a rate, we still have to know which direction the OP wants the rate for! This, plus encouraging thinking, is why I started with questions, too.
But the basic answer is one word: divide.
yoscar04
Full Member
- Joined
- Jun 3, 2020
- Messages
- 274
Apparently it is. It goes well with the actual rate 1.53 NZ=1USD
One of the moderators asked if you are talking about the price of the same object in two different currencies. It looks like that is the case. In any event I just checked the exchange rate today and it is 0.65 USD= 1NZD and 1.53 NZ=1 USD. Maybe that will help you. Your exchange rate will turn out to be a little bit different but I guess you got the idea. And last, one of the elite member wrote you to just divide.
Thanks for the replies. I have products being displayed in USD but want to show the NZD price they offer. I'm using a webservice so only get the USD rate but on their actual website they do offer a NZD value. Their exchange rate is not published and there are many different rates bepding on NZ or US banks and the various banks or XE providers.
I was hoping to compare the USD and NZD prices for 1 or two products once a week and work out what their rate was then apply that within my computer code to the rest of the products as a '*Estimated value'.
Therefore with a USD value an a NZD value can you work out what rate has been applied.
I was hoping to compare the USD and NZD prices for 1 or two products once a week and work out what their rate was then apply that within my computer code to the rest of the products as a '*Estimated value'.
Therefore with a USD value an a NZD value can you work out what rate has been applied.
Dr.Peterson
Elite Member
- Joined
- Nov 12, 2017
- Messages
- 16,722
When you convert USD to NZD, you will be multiplying by the NZD value of one USD. Given your data, USD 44.99 = NZD 64.77, so 1 USD is 1/44.99 of that: 64.77/44.99 = 1.440. That is your exchange rate: 1 USD = 1.44 NZD. Do the same, of course, with next week's prices.
What you might want to do is to do this for a good number of prices, at least the first time, to confirm whether they use a consistent exchange rate, or have something else going on. I imagine you will get the same rate for everything apart from some rounding errors.
What you might want to do is to do this for a good number of prices, at least the first time, to confirm whether they use a consistent exchange rate, or have something else going on. I imagine you will get the same rate for everything apart from some rounding errors.
Yes. You have been told the answer: divide. You probably want to know how many US dollars you can get for a NZ dollar
[MATH]\dfrac{44.99 \text{ US dollars}}{\text {unit}} \div \dfrac{64.77 \text { NZ dollars}}{\text {unit}} \approx 0.695 \text { US dollars per NZ dollar.}[/MATH]
EDIT: This is equivalent to Dr. P's answer
[MATH]\dfrac{1}{0.695} \approx 1.440 \text { NZ dollars per US dollar.}[/MATH]
[MATH]\dfrac{44.99 \text{ US dollars}}{\text {unit}} \div \dfrac{64.77 \text { NZ dollars}}{\text {unit}} \approx 0.695 \text { US dollars per NZ dollar.}[/MATH]
EDIT: This is equivalent to Dr. P's answer
[MATH]\dfrac{1}{0.695} \approx 1.440 \text { NZ dollars per US dollar.}[/MATH]
Last edited: