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Andre is a currency trader for National Savings Bank. Each day, he decides how to trade the currency he has for currencies from other countries
Andre is a currency trader for National Savings Bank. Each day, he decides how to trade the currency he has for currencies from other countries in an effort to turn a profit. Andre monitors currency prices in ratio to one another. As of March 24, 2006, for example, it took $1.1275 Canadian to purchase $1.00 U.S. Andre determines the number of U.S. dollars needed to purchase one Canadian dollar by dividing $1.00 U.S. / $1.1675 Canadian= $0.8565 U.S. to make profitable trades, Andre needs to know the conversion rates between the currencies of many countries at once. 5. His travel agent booked him a hotel room at a rate of 105 pounds per night. How much did Andre pay for the room in U.S. dollars if 1 British pound buys 1.7427 U.S. dollars
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