Now another way to express this is one Euro, one Euro is equal dollar, is equal to how many Euros? And at the time of this video, it's actually 0.87 Euros. Respect to the Euro, you could express that as one U.S. Next reaction should be, with regards to what other currency? So if I said, what's the exchange rate of the U.S. The first thing to appreciate, if someone says what's the exchange rate for the U.S. And so, first let's make tangible what an exchange rate even looks like. Money in terms of Euros, and then you have to convert them back to dollars to pay your costs, well the idea of anĮxchange rate matters a lot. In the United States, where all of your costs are in dollars, but you're selling them in Europe where you're getting your It's also very important if you're an importer and exporter. Those dollars into Euros, you'd say, well how many Euros am I going to get for my dollars? Or if you were European, and you had a certain number of Euro, and you said how manyĭollars am I going to get for my Euros, you would be Traveling to that country, and you are holding dollars, and you needed to exchange Necessarily equivalent to one currency unit inĪnother country, say one Euro. Already likely familiar with the notion that a dollar in the U.S., a U.S.
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