Practise converting GBP to EUR, PLN, UAH and RON using realistic exchange rates.
You send £1,400 via a provider that adds a 3% margin over the mid-market rate (1 GBP = 5.83 RON). How many RON do you lose to the margin?
Answers accepted within 1% tolerance
Currency conversion is a daily need for the millions of people in the UK who send money abroad, pay for foreign holidays or receive income in another currency. This drill uses realistic mid-market rates for the four corridors most relevant to UK migrants and travellers — GBP to EUR, PLN, UAH and RON — and practises converting in both directions. The questions cover converting a round sterling amount to the foreign currency, finding how much sterling you get for a given foreign amount, and estimating real-world transfer costs when a provider takes a 1%–3% margin.
The mid-market rate (or interbank rate) is the midpoint between the buy and sell price for a currency. Banks and transfer services add a margin on top — usually 0.5%–4%.
Multiply the GBP amount by the exchange rate. For example, at a rate of 1.17 EUR/GBP, £500 × 1.17 = €585.
Divide the foreign amount by the rate. At 1.17 EUR/GBP, €585 ÷ 1.17 = £500.
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