Episode 54 —

Exchange Rates - Part 2

Learners will be able to:

- Identify the value of one currency in relation to another currency using an exchange rate. - Calculate the amount of foreign currency received when exchanging a specific amount of South African rand at the given exchange rate. - Explain why banks charge different amounts for buying and selling currency, including the concept of making a profit. - Determine the commission charged on an exchange transaction based on the minimum and maximum fees specified by the bank. - Sketch a graph illustrating how the exchange fees are charged, showing the relationship between the amount exchanged and the commission paid.