The formula for converting one currency to another is simply by multiplying it the exchange rate at the time you want to do your conversions. For instance if you want to convert, say £ 40.00 to US dollars, you first get the exchange rate like £ 1.00 = $ 1.4487. Thereafter, you multiply the digits and get your results; 40* 1.4487. Generally, £ 40 is equivalent to $ 57.948. That is all there is, the trick is to get the correct exchange rate.

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The conversion of currency from one to another will depend on the currency you want to convert to. If converting from Euros to dollars, you take the amount of Euros and multiply by the current euro to dollars exchange rate.

Different currencies relate to each other differently, based on their purchasing power and the strength of their economies. As such, you will need to know the current exchange rate of the currencies that you are dealing with.

The formula for converting currency changes a lot with regard to the changes in the value of a currency. For instance, 1 pound is equivalent 1.59 US dollars and 1.22 euro. This amounts change over time and you have to update yourself on the current exchange rates.

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