Calculating the Exchange Rate exchange rate is the amount of money that is paid for a unit of foreign currency. To calculate exchange rates; If 1 CAD = 0.63 GBP therefore 1GBP = 1/0.63 = 1.59CAN and if 1CAD = 0.75 USD, then 1USD =1/0.75 = 1.33CAD$
To calculate exchange rates based on the Big Mac index it is
cost country A / cost country B = x / $1 country B
from that you simply cross multiply to find $x to $1 country B
exchange rate is the amount of money that is paid for a unit of foreign currency.
To calculate exchange rates;
If 1 CAD = 0.63 GBP therefore 1GBP = 1/0.63 = 1.59CAN and if 1CAD = 0.75 USD, then 1USD =1/0.75 = 1.33CAD$
To calculate exchange rates based on the Big Mac index it is
cost country A / cost country B = x / $1 country B
from that you simply cross multiply to find $x to $1 country B