🌟 Understanding Exchange Rates 🌟 - Grade 6 Financial Literacy

Hi my world-traveler Grade 6 friends! 👋

When you travel to another country or buy things online from abroad, you need to understand exchange rates. It tells you how much one country’s money is worth in another country’s money.

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1. What is an Exchange Rate?

1 Canadian Dollar (CAD) = 0.74 US Dollars (USD)

This means $1 CAD is worth about 74 cents in the USA.

Exchange rates change every day!

2. Popular Currencies & Their Rates

Currency	Country	Approx. Value in CAD
USD	United States	1 USD ≈ 1.35 CAD
EUR	Europe	1 EUR ≈ 1.48 CAD
GBP	United Kingdom	1 GBP ≈ 1.75 CAD

3. How to Convert Money

Example 1: You have $100 CAD. How many USD?
100 × 0.74 = $74 USD

Example 2: A toy costs €50 in Europe. How much in CAD?
50 × 1.48 = $74 CAD

4. Let’s Practice Together! 🌍

Question 1

You have $200 CAD. If 1 CAD = 0.74 USD, how many US dollars do you have?

$148 USD
(200 × 0.74) ⭐

Question 2

A video game costs €30 in Europe. If 1 EUR = 1.48 CAD, how much is it in Canadian dollars?

$44.40 CAD ⭐

Question 3

If the Canadian dollar gets stronger, do you get more or less foreign money for the same amount of CAD?

More foreign money! ⭐

5. Exchange Rates in Real Canadian Life 🇨🇦

• Travelling to the USA for vacation
• Buying things online from other countries
• Parents exchanging money at the bank or airport
• Following news about how strong the Canadian dollar is

You are now a World Currency Expert! 🌟

Fantastic job! You understand exchange rates and how to convert money between countries.

Next time you travel or shop online, you’ll know how to compare prices in different currencies!

Love and proud high-fives,
Mrs. Brenda ❤️

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