Level 4 · ages 16–18OECD MTSpend
International payments & exchange rates
🎯 Goal: Know the exchange rate is the price between two currencies; rates change, so cross-border payment has risk and fees.
An exchange rate shows how much of one currency another buys. Buying abroad converts at the rate plus a conversion fee; rates move, so there is risk.
Let’s explore
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E.g., 1 USD ≈ 25,000d: a 10 USD item ≈ 250,000d (before fees).
📈
Rates change daily → same item, a different day, a different converted price.
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Cross-border payments usually carry conversion/transaction fees — watch out.
Practice activity
🧮 1 USD = 25,000d. A 20 USD app costs about how much in VND (before fees)?
Worked example: 1 USD = 25,000d. A 20 USD app → 20 × 25,000 = 500,000d, plus the card’s conversion fee (e.g., 2–3%), so a bit more in practice.
Quick quiz
1. An exchange rate is?
→ The price between two currencies
2. 1 USD = 25,000d, 20 USD ≈?
→ 500,000d
3. Rates change, so?
→ Cross-border payment has risk
4. International payment usually includes?
→ Conversion/transaction fees
5. The same foreign item, another day, the VND price can?
→ Differ as the rate changes
🎯 Real-life mission
Look up today’s USD/VND rate and convert a $20 item to VND.
‹ Fees, interest & terms · Digital money tools (apps) ›