Currency

Barks · 21 Dec 2011 at 22:42

Is it me or do currency conversion tables make no sense whatsoever.

OK. So everyone knows that for every pound you can get more dollars, and thus you can use this intuition to work out the table.

However, how on earth otherwise can you possibly know how to read these tables?

On the bottom table you simply read across. 1 USD is £1.64. Easy.

On the top table however this doesn't work, you have to read downwards so that 1 USD is £1.64. If you were to read across as in the bottom table you would work out that 1 USD is £0.6091.

How do you know which way round the rows/columns should be in a scenario where the currencies and values are completely made up!?

What the hell.

[FnG]magnolia · 21 Dec 2011 at 22:44

Are you ... are you joking?

contracteur · 21 Dec 2011 at 22:44

The legend on the left is source, and the legend on the top is destination for example.

So on the first row, 1 USD = 1 USD, 0.69 EUR etc.

EDIT: on the second table, the rows and columns have swapped places. Pivoted.

POB · 21 Dec 2011 at 22:45

It tells you both how much your dollar is worth and how much of the other currency you get for your dollar.

Both are valid.

Andr3w · 21 Dec 2011 at 22:45

Just use this http://www.xe.com/

lookitsjonno · 21 Dec 2011 at 22:46

Nerusy · 21 Dec 2011 at 22:46

EUR/USD

Eur- base, USD quote. When you say eur/usd XXXX you mean $XXXX of eur.

Column is quote, row is base. Base is always 1 of base currency.

Edit: oh goodness I did not see that the second table is column base, row column. haha that is tricky.

Barks · 21 Dec 2011 at 22:47

I know what it shows, but how do you know which way round it is? The two tables are completely different. How do you know which figure reflects how many pounds you get for your dollar AND which figure reflects how many dollars you get for your pound.

Shayper · 21 Dec 2011 at 22:47

Seeing as 1 dollar = 0.69 pounds, I think you read it wrong

Nitefly · 21 Dec 2011 at 22:49

Oh dear OP, learn to read a table before you rant about it

Barks · 21 Dec 2011 at 22:50

OK. This is what happens when you're tired and stressed and fed up of these things.

So do you always read across such that in the above table.

1 USD = £0.6091

and in the bottom table

1 USD = £1.63

Nitefly · 21 Dec 2011 at 22:51

scott212 said:
OK. This is what happens when you're tired and stressed and fed up of these things.

So do you always read across such that in the above table.

1 USD = £0.6091

and in the bottom table

1 USD = £1.63

No, £1 gives $1.63. $1 gives £0.61.

Wyrdo · 21 Dec 2011 at 22:51

Nitefly said:
Oh dear OP, learn to read a table before you rant about it

This is all that needs to be said, there's nothing complicated going on here

Barks · 21 Dec 2011 at 22:52

contracteur said:
EDIT: on the second table, the rows and columns have swapped places. Pivoted.

Hence the point of this thread.

How on earth am I supposed to know that. Say the currencies and values were completely made up?

Barks · 21 Dec 2011 at 22:53

Before some of you start to be patronising as usual. If the currencies and values were completely made up, then how the hell would anyone know that in the bottom table the rows and columns would have swapped?

You wouldn't be able to work out which way round it is.

Nitefly · 21 Dec 2011 at 22:53

scott212 said:
Hence the point of this thread.

How on earth am I supposed to know that. Say the currencies and values were completely made up?

I guess the point is valid that this isn't clear, but in reality it's common knowledge that £1 is historically more than $1.

Kemik · 21 Dec 2011 at 22:54

scott212 said:
Hence the point of this thread.

How on earth am I supposed to know that. Say the currencies and values were completely made up?

Table should be labelled.

Shayper · 21 Dec 2011 at 22:54

scott212 said:
Before some of you start to be patronising as usual. If the currencies and values were completely made up, then how the hell would anyone know that in the bottom table the rows and columns would have swapped?

Patronising?

They are trying to help.

muon · 21 Dec 2011 at 22:55

OP has a good point, no one even bothered to read his/her point properly.

Barks · 21 Dec 2011 at 22:55

Nitefly said:
I guess the point is valid that this isn't clear, but in reality it's common knowledge that £1 is historically more than $1.

Yes I appreciate this and I use that intuition to answer all these currency conversion questions. I was asking on here if there is a mathematical way of knowing which way round the rows/columns are. I guess there isn't.