Cracking currency: a beginner’s guide to foreign exchange
Having an awareness of currency exchange rates is extremely useful, but complicated terminology makes it extremely difficult. Here’s our handy guide from the thriftiest of sources – our Student Economist.
Family holidays are a period of blissful economic ignorance for children. However, when the time eventually comes to booking our own holidays and organising our own finance abroad, we are faced with cracking a truly befuddling concept: currency exchange rates. The internet is inundated with attempts to explain this, but complicated terminology makes it extremely difficult. The following example strives to simplify currency exchange rates in a way that is accessible to all - through the medium of snacks: Three boys have snacks in a playground. Charlie has chocolate. Harry and Hamish disappointingly have Haribos. They want to trade for…