Bid Price (Bid rate) the bank to buy foreign exchange to customers (price listed in the “/” on the left of the currency, that is the base currency) is used to exchange rates.
Selling price (Offer rate) refers to the bank to sell foreign currency (price listed in the “/” on the left of the currency, that is the base currency) is used to exchange rates.
Currency U.S. Dollar is the buying rate and selling rate average.
For example:
Such as the U.S. dollar / yen exchange rate of 115.25/115.35, saying that customers to the bank to sell U.S. dollars to buy yen (bank bought U.S. dollars) in exchange for 115.25, while the customer to the bank to sell yen to buy U.S. dollar exchange rate of 115.35.
Therefore, if you want to 100 U.S. dollars converted into yen, then you will be in accordance with 115.25 of the exchange rate, exchange was 11525 (that is, 100 * 115.25) yen; 10,000 yen if you want to be converted into U.S. dollars, then you will be In accordance with 115.35 of the exchange rate, exchange was 86.69 (ie, 10000/115.35) dollars.
AUD / USD exchange rate of 0.5830/0.5840, saying that customers buy to sell the Australian dollar exchange rate of 0.5830, while the sell U.S. dollars to buy the Australian dollar exchange rate 0.5840.
You may find that determine the exchange rate after the exchange was in the calculation of the amount of money, but also to determine is to use multiplication or division. Related to the calculation method can be summarized in two sentences: “(money) from left to right, multiplied by the left (exchange rate); (money) from right to left, divided by the right (exchange rate).”
Therefore, in accordance with the above quote, you make 100 Australian dollars, when converted into U.S. dollars, you get 100 * 0.5830 U.S. dollars; you take 100 U.S. dollars, when converted into Australian dollars, they get 100/0.5840 Australian dollars.