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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › exchange rates
HI John,
I had a resit in September and got 49%. There was a question on this and it was my weakest area in revision so I would like to become better at it.
I understand the rule and know which rate to use, however the problem is when to divide and multiply when to divide.
In question 1 we sold the USD for GBP but in question 2 we were also selling IR for R$ but we multiplied instead of divide. Before looking at the lecture I used divide which was wrong, I think I am missing something of when to divide and multiply.
Can you help me here?
It depends which way round the exchange rates are quoted, and which currency we are converting.
I do suggest that you watch the free lectures again because I do explain this in detail.