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3.04 Exchange rates

Worksheet
Currency conversions
1

Assuming that 1 AUD can buy 0.90 USD.

a

What amount in USD is equivalent to 88 AUD?

b

What amount in AUD is equivalent to 24 USD?

2

Assuming that 1 AUD can buy 7.10 HKD.

a

What amount in HKD is equivalent to 36 AUD?

b

What amount in AUD is equivalent to 57 HKD?

3

If 50 AUD is worth 491\,755 Indonesian Rupiah, how much is 1\,000\,000 Indonesian Rupiah worth in AUD?

4

If 350 AUD is worth 3498 South African Rand, how much is 8000 South African Rand worth in AUD?

5

If 80 AUD is worth 56 USD, how much is 350 USD worth in AUD?

6

If 190 AUD is worth 358.37 FJD, how much is 380 FJD worth in AUD?

7

The table shows the rates at which you can buy and sell 1 British Pound (GBP) in exchange for various currencies:

\text{Currency}\text{Buy }1\text{ GBP}\text{Sell }1\text{ GBP}
\text{Hong Kong dollar}5.87695.5243
\text{Australian dollar}1.79741.6896
\text{Canadian dollar}0.92970.8925
\text{New Zealand dollar}0.96500.8878
\text{US dollar}0.84110.7822
\text{Japanese yen}95.156187.5436
a

How many US dollars (USD) do you need in order to buy 1 GBP?

b

Hence, calculate how much currency in GBP can be bought with 4800 USD.

8

The table shows the rates at which you can buy and sell 1 Australian Dollar in exchange for various currencies:

\text{Currency}\text{Buy }1\text{ AUD}\text{Sell }1\text{ AUD}
\text{Fijian Dollar}2.07491.7737
\text{Yen}99.444585.7473
\text{Rupee}68.179350.7655
\text{Euro}0.83270.7399
\text{Canadian Dollar}1.04430.9235
\text{Hong Kong Dollar}8.85687.4328
\text{Chinese yuan}4.793.09
\text{Baht}36.541035.5962
a
i

How many Canadian dollars (CAD) do you need in order to buy 1 AUD?

ii

Hence, calculate the amount in AUD that can be bought with 670 CAD.

b
i

How many Fijian dollars (FJD) can you buy with 1 AUD?

ii

Hence, calculate the amount in FJD that can be bought with 280 AUD.

c
i

How many Yen do you need in order to buy 1 AUD?

ii

Hence, calculate the amount in AUD that can be bought with 6800 Yen.

d
i

How many Baht can you buy with 1 AUD?

ii

Hence, calculate the amount in Baht that can be bought with 1300 AUD.

9

The table shows the rates at which you can buy and sell 1 Australian Dollar in exchange for various currencies:

\text{Currency}\text{Buy }1\text{ AUD}\text{Sell }1\text{ AUD}
\text{Fijian Dollar}2.07491.7737
\text{Yen}99.444585.7473
\text{Rupee}68.179350.7655
\text{Euro}0.83270.7399
\text{Canadian Dollar}1.04430.9235
\text{Hong Kong Dollar}8.85687.4328
\text{Chinese yuan}4.793.09
\text{Baht}36.541035.5962
a

James pressed the wrong button and accidentally exchanged 3500 AUD for Fiji dollars. After realising this, he exchanged the amount back for Australian dollars.

i

How much in Fiji dollars did he receive after the initial exchange?

ii

How much in Australian dollars did he receive after the second exchange?

iii

How much in Australian dollars did he lose from the 3500 AUD that he started with?

b
i

Calculate the exchange rate (midrate) for 1 Australian dollar (AUD) in terms of baht (THB).

ii

How many THB can you get if you have 1 AUD?

iii

If you've returned to Australia from overseas and you want to exchange your baht, how many THB do you need to buy back 1 AUD?

iv

If a bank's buying rate is higher than its selling rate for a particular currency, will it make a loss or a profit from buying and selling the currency?

c
i

Calculate the exchange rate (midrate) for 1 Australian dollar (AUD) in terms of Chinese yuan.

ii

How many Chinese yuan can you get if you have 1 AUD?

iii

If you've returned to Australia from overseas and you want to exchange your Chinese yuan, how many Chinese yuan do you need to buy back 1 AUD?

10

The table shows the rates at which you can sell 1 British pound in exchange for various currencies:

CurrencySell
\text{Swiss franc}0.7700
\text{Hong Kong dollar}6.2417
\text{Singapore dollar}0.9397
\text{New Zealand dollar}0.8961
\text{Japanese yen}88.2461
\text{Canadian dollar}0.9233
a

How many Swiss francs (CHF) can you buy with 1 GBP?

b

Hence, calculate how many CHF can be bought with 4200 GBP.

11

The table shows the rates at which you can buy and sell 1 Australian Dollar in exchange for various currencies:

\text{Currency}\text{Buy }1\text{ AUD}\text{Sell }1\text{ AUD}
\text{Fijian Dollar}2.07491.7737
\text{Euro}0.83270.7399
\text{Canadian Dollar}1.04430.9235
\text{Pound}0.68890.6308
\text{Chinese yuan}4.793.09
\text{Baht}36.541035.5962
a

Brad is going on a holiday to France, and wants to change 9800 AUD into euros for spending money. How many euros can he buy?

b

Sally bought a laptop in the UK for 530 pounds. What is the price in Australian dollars?

c

Iain wants to change the 140 FJD (Fiji dollars) he has left from his holiday back into Australian dollars. How much AUD will he receive?

d

Skye purchased 400 jumpers from a manufacturer in Thailand for 97\,640 Baht. How much did she spend in Australian dollars?

e

Emma, who is living in Fiji, just received 480 AUD for a smartphone she sold on eBay to a buyer in Australia. How much is this in her local currency (Fiji dollars)?

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Outcomes

1.1.2.2

convert between units for rates

1.1.2.4

use rates to make comparisons

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