When might it be important to know a currency's exchange rate? when planning expenses for an overseas trip when changing money into smaller denominations when preparing to buy something expensive when deciding which college is the best value

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26-10-2016
Mathematics

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When might it be important to know a currency's exchange rate? when planning expenses for an overseas trip when changing money into smaller denominations when preparing to buy something expensive when deciding which college is the best value

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metchelle metchelle · Answer 1 · 2016-10-28T12:08:57+02:00

The correct answer of the given question above would be the first option. It is important to know a currency's exchange rate when you are planning for the expenses for an overseas trip. When you are overseas, the money you will be using should be exchanged for the currency depending on where you travel and currency changes from time to time and differs from country to country so it is necessary to know the rate beforehand. Hope this answer helps.

AFOKE88 AFOKE88 · Answer 2 · 2022-03-02T12:37:19+01:00

The reason why it is important to know a country's exchange rate is; A: when planning expenses for an overseas trip.

What is exchange rate?

A country's exchange rate is simply the rate at which the currency of that particular country is used to get the currency of another country.

Now, exchange rate is important to know for a variety of reasons such as making international transactions and when planning to travel to another country as that country will have a different currency from your own country.

Thus, the correct option is the first one

Read more on exchange rate at; https://brainly.com/question/11160294