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Definition--Financial Literacy--Exchange Rate

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# Exchange Rate

## Topic

Financial Literacy

## Definition

An exchange rate is the rate at which one currency can be exchanged for another, influencing international trade and investment.

## Description

Exchange rates determine the relative value of different currencies, affecting the cost of imports and exports, travel, and foreign investments. Understanding exchange rates is crucial for international business and financial planning. In real-world applications, exchange rate fluctuations can impact profits, costs, and competitiveness. In math education, exchange rates introduce students to currency conversion, economic analysis, and global markets. A teacher might explain, "Exchange rates tell you how much one country's money is worth in another country, which is important for buying and selling things internationally."

For a complete collection of terms related to Financial Literacy click on this link: __Financial Literacy Collection.__

Common Core Standards | CCSS.MATH.CONTENT.HSA.CED.A.1 |
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Grade Range | 8 - 10 |

Curriculum Nodes |
Algebra• Expressions, Equations, and Inequalities• Numerical and Algebraic Expressions |

Copyright Year | 2023 |

Keywords | financial literacy, currency exchange, foreign exchange |