Currency Conversion Using Exchange Rate

Information on how our currency conversion formulas work.

Currency Conversion Using Exchange Rate

From EUR to GBP

1. Option A: Divide the EUR amount by the exchange rate.

   • Formula: EUR Amount ÷ Exchange Rate = GBP Amount

   • Example: €1,500 ÷ 1.14 = £1,315.79

2. Option B: Multiply the EUR amount by the inverse exchange rate.

   • Formula: EUR Amount × Inverse Exchange Rate = GBP Amount

   • Example: €1,500 × 0.8771929 = £1,315.79

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From GBP to EUR

1. Option A: Divide the GBP amount by the inverse exchange rate.

   • Formula: GBP Amount ÷ Inverse Exchange Rate = EUR Amount

   • Example: £1,500 ÷ 0.8771929 = €1,710

2. Option B: Multiply the GBP amount by the exchange rate.

   • Formula: GBP Amount × Exchange Rate = EUR Amount

   • Example: £1,500 × 1.14 = €1,710

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Important Note:

The provided exchange rate 1.14 is an example. Always confirm the current exchange rate with the accounts team before performing conversions.