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Using the AUD/USD exchange rate and currency amount provided, calculate the counter currency amount, rounded to the appropriate number of decimal places. (Note: Currency symbols are not required) Currency amount: AUD 1665112.91 Exchange rate: 0.7576 Counter currency amount:.....

Question

Using the AUD/USD exchange rate and currency amount provided, calculate the counter currency amount, rounded to the appropriate number of decimal places.

(Note: Currency symbols are not required)

Currency amount: AUD 1665112.91

Exchange rate: 0.7576

Counter currency amount:.....

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Solution

To calculate the counter currency amount, you need to multiply the currency amount by the exchange rate.

Here's how you do it:

  1. Take the currency amount which is AUD 1665112.91.
  2. Multiply this amount by the exchange rate which is 0.7576.

Let's do the calculation:

1665112.91 AUD * 0.7576 = 1260931.69 USD

So, the counter currency amount is USD 1260931.69.

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