To convert currency, obtain the current exchange rate, and divide one by the rate. The resulting number shows the value of one unit of currency in relationship to another.Continue Reading
Find the exchange rate for the currency pair in question. Bloomberg provides a listing of pairings for major currencies.
Divide one by the rate obtained in the previous step. The formula used in this step is that the Y-to-X exchange rate is equal to one divided by the X-to-Y exchange rate.
Use the answer from the previous step to understand the value of one unit of the "Y" currency expressed in the "X" currency.
Historical currency exchange rate charts are available from a number of currency information websites such as OANDA, Currencies Direct and OzForex. The exact process for viewing the information depends on the design of the particular Web page offering the information.Full Answer >
The floating exchange rate between the Philippine peso and the U.S. dollar means that it changes constantly because currency trading never stops, according to Investopedia. Each time that someone either trades for or trades away one of the currencies, its value either rises or falls relative to the other.Full Answer >
Banks, currency traders, tourists, and others use exchange rate calculators to determine how much of one currency they can buy with another currency based on current market conditions. Exchange rate calculators are often referred to as currency calculators. X-rates.com maintains a currency calculator on their site.Full Answer >
Floating currency and pegged currency are the two most prominent ways to determine the exchange rate for a particular currency. A floating currency rate is determined by the fluctuation of the stock and exchange markets. A pegged currency rate is set by the country or region where the currency originates.Full Answer >