Question

You want to exchange £750 for euros. These are the currency exchange rates from 3 different sources. Company Exchange rate Travel Exchange 1.1065 Phoenix Financial 1.1050 Money Matters 1.1075 Which gives you the best value for money?

Answer 1

Money Matters is the best value for money for £750 they are giving 806.25 euros.

What is Money exchange?

Customers can exchange one currency for another at a currency exchange, which is a licensed business.

The three agents are giving the money at different rates:-

Travel Exchange   =  750  x   1.1065  =   798.75 Euros

Phoenix Financial =   1.1050  x  750  =   787.5 Euros

Money Matters      =  1.1075  x   750  =    806.25 Euros

We can see that Money Matters is giving the best value for money.

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