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Cracking currency: a beginner’s guide to foreign exchange

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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.

Students get a bad wrap when it comes to money. But every year, half a million of us manage the cruel plunge into the deep end of economic independence and the infinity pool of student debt, and how? Because the student is no ordinary 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 some of Charlie’s chocolate. Charlie makes an offer: 5 squares of chocolate for 5 Haribos. Harry seizes the…

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