5.5 Exchange Rates

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6.5 Exchange Rates

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5.5 Exchange Rates

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Selling Suggested Counter Rate:

The rate you pay when the bank sells you a foreign currency

5.5 Exchange Rates

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Buying Suggested Counter Rate:

The rate you get when the bank buys your foreign currency

5.5 Exchange Rates

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Example 1

You are planning a trip to the U.S. You figure you'll need $200 USD for the holiday. Using the foreign cash bulletin, calculate your cost of purchase $200 USD with Canadian money.

5.5 Exchange Rates

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December 19, 2013

Example 2

The trip is cancelled. :( Convert your $200 USD back to Canadian currency at the bank.

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Example 3. Your grandmother, who lives in Hong Kong, sent you a money order for $500 Hong Kong dollars. Calculate the amount of Canadian money you would receiving using the foreign cash bulletin.