Disclaimer: These are hypotheticals, not real exchange rates.
When doing exchange rate calculations, is the currency to the left the currency you're exchanging, and the right the one you're converting to?
If I had $50USD would my calculation to convert it into GBP be:
50 x 0.63674 = £31.84 (rounded up from 31.837)
but not this calculation:
50 / 0.6374 = £78.52
Similarly, for the second one would it be:
50 x 1.5704 = £78.52
50 / 1.5704 = $31.83
Basically, when would I divide, when would I multiply?
Is the basic rule:
USD x Exchange Rate = GBP (or whatever currency)
GBP / Exchange Rate = USD
To change pounds to dollars multiply by [number]
To change dollars to pounds divide by [number]
Any help on this is gratefully appreciated.