Posted by forex at 2:29 AM
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1. Identify a currency pair. The currency pair consists of the currency you currently own and the currency you wish to buy. For example, if you own Japanese yen and want to purchase U.S. dollars.
2. Formulate your ratio. That is, put the currency you wish to buy in the numerator and the currency you wish to sell in the denominator -- USD/JPY for example.
3. Log on to an online currency converter. There are dozens of currency converters available on the Internet. You can find one easily by typing 'currency converter' into a search engine.
4. Specify you currency pair. Most currency converters allow you to use a drop-down list to pick your numerator and denominator. The converter will respond with the exchange rate between the two currencies.