Course 1610 lessons

Currency, forex, and traveling with money

How exchange rates actually work, why they move, and how to avoid losing money to bad rates, hidden fees, and travel scams when you're converting pesos to foreign currency or spending abroad.

What an exchange rate actually is

An exchange rate is simply a price, the price of one currency measured in another. When you see that the rate is ₱56 per US dollar, that number is telling you exactly one thing: it takes ₱56 to buy one dollar right now, the same way a price tag tells you how many pesos a kilo of rice costs.