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dear sir
If i have two rates USD/GBP 1.9 and Euro/GBP 1.45, what is the rule for which direction you divide. If i take 190/1.45 I get 1.31 (which I believe is correct), but what would stop me from taking 1.45/1.9???
It depends on which way round you want the change rate to be presented.
Given that 1.9$’s is equal to 1.45 euros, then 1€ = 1.9/1.45 = 1.31$’s, so the exchange rate is $/€ 1.31.
Alternatively, 1$ = 1.45/1.9 = 0.76€’s, so the exchange rate is €/$ 0.76
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