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What is the difference between American and European terms for quoting currencies? Give an example. If...

What is the difference between American and European terms for quoting currencies? Give an example. If you have traveled outside your home country, discuss how you exchanged currency while abroad. What process did you follow?

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Answer #1

An american currency quote can be stated in terms of European currency like US $0.5 per C$1 which means 1 Canadian Dollar equals 0.5 US dollars.

Dollars can be bought through forex brokers, independent forex vendors at airport, banks and non banking financial institutions. Usually process being simple is to fillup forms and exchange local currency over counter plus brokerage charges amd get in return foreign currency of choice based on current exchanges rate.

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