Different currencies are used in different regions. Before you set off, you should know the local currency and that converts into Hong Kong dollars (HKD). Match the correct currencies used in the below cities/countries. Hong Kong Japanese yen JPY Japan Renminbi RMB Beijing Australian dollar AUD America US dollar USD Australia Hong Kong dollar HKD Exchange rate – How to convert currency? Buy Bank buys from you Sell Bank Sell to you = = Foreign currency Buy Sell US dollar (USD) USD 7 8 Australian dollar (AUD) AUD 5 6 * A hypothetical illustration to make it easier for children to understand and calculate. The banks usually set a foreign currency unit as 1. Referring to the above table, if you buy USD 1 from the bank (the banks sells you USD 1), you have to pay the bank HKD 8. If you sell USD 1 to the bank (in which case the bank buys USD 1 from you), you can get back HKD 7. 1 Princess Chin will visit Australia with her family, how much HKD does she need to pay in exchange for AUD 1? Princess Chin need to pay HKD in exchange for AUD 1. 2 The entrance fee of the zoo is AUD 25, what is the equivalent amount in HKD? Princess Chin need to pay HKD in exchange for AUD 1, therefore, AUD 25 is equivalent to HKD . 3 At the end of the trip, Princess Chin wants to exchange the remaining AUD 100 with the bank, how much HKD will she get in return? Selling AUD 1 to the bank will receive HKD , therefore, selling AUD 100 will receive HKD in return. Key Understanding how different countries and regions use different currencies learning points Introducing the concept of exchange rate and simple currency conversion Parenting and Money Portal www.ifec.org.hk/parent.