1

CHF (Swiss Franc Currency) USD (U.S. Dollar)

0.976 CHF = 1 USD 1.025 USD = 1 CHF

I have to convert 14,603.39 USD into CHF on Excel.

I basically took: $14,603.39 * 0.976 to get CHF 14,252.906

Is that right?

Should I multiply or divide 14,603.39 with 1.025? There are a bunch of USD amounts that I need to convert to Swiss francs and really need to know if i'm right. This is done on Excel BTW.

Thanks in advance for your response!

2

Your conversion is correct. Using excel doing the same conversion multiple times should be quite simple.

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1

As @homer150mw already mentioned, you have done the calculation correctly. In the future, you can avoid making mistakes of this kind (i.e., dividing instead of multiplying) by keeping track of "units."

Often, in some calculation, a number has some units associated with it; for example, 570 might be 570 kilograms or 570 kilometers per hour. You can keep track of these units when multiplying or dividing, by treating the expressions for units as fractions and cancelling as needed. For example, if you evaluate the expression "(5 kilometers/hour) * (3 hours)," the "hours" cancel and you get "15 kilometers." Similarly, "(6 kilometers) / (2 kilometers/hour)" yields "3 hours."

In your case, you can reason that your currency conversions come with units: 0.976 is actually "0.976 Swiss Francs per US Dollar." From there, you can see that you should multiply that number by a number of dollars to get a number of francs, so that the "US Dollars" term cancels in the denominator.

This type of reasoning is called dimensional analysis.

Note that, as some commenters pointed out, some places will unfortunately write 0.976 USD/CHF to mean "0.976 USD converts to 1 CHF," instead of "0.976 USD per CHF," defying all conventions about what "/" means. If you're given some number as a currency conversion rate, make sure you know what it represents. The above rationale interprets fractions as meaning "0.976 USD per CHF," as is standard throughout the quantitative arts and sciences.

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  • Just be careful about FX conversion rates. You will often see rates written like 1.3142 GBP/USD. This is not 1.3142 GBP per USD. Instead, for some asinine reason, its 1.3142 USD per GBP. More relevantly to you, 1.025 CHF/USD is, as you wrote, 1.025 USD per CHF. – davmp Jul 28 '16 at 0:27
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    @davmp Gah, why would they do that? There is a standard about how to write these things, and then they have to go and ruin perfectly good pedagogy. – user27684 Jul 28 '16 at 0:31
  • This answer is wrong and complete opposite of reality. money.stackexchange.com/a/49830/24920 – base64 Jul 28 '16 at 8:34
  • @base64 No. Perhaps I've defied a FOREX convention about how to write things, but if "0.976 CHF = 1 USD", then it is perfectly reasonable to think of that fact as "oh point nine seven six Swiss Francs per US Dollar" and then use dimensional analysis to perform conversions. Just as you would in literally any other field where conversions come up. Or are you saying actually means that "0.976 CHF = 1 USD" means that every 0.976 dollars are worth 1 franc? I don't think that's true. – user27684 Jul 28 '16 at 10:15
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    @Mike, agree that the basic point of your answer (use dimensional analysis) holds even if FX standards are different on position of currencies in those dimensions. – davmp Jul 28 '16 at 11:41
-3

Use this link not excel.

https://www.google.com/?gws_rd=ssl#q=currency+exchange

Once you double check and match, if you want to stay in excel can stay in excel if you need to.

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