Grade 6 · Social Studies · Lesson 21

Currency and exchange rates

Every country issues its own money — its currency — and uses it within its borders. When people, businesses, or governments need to trade across borders, they must convert one currency into another. The rate of that conversion is called the exchange rate, and it changes constantly throughout each business day.

What this lesson teaches

1Identify the major world currencies and the regions where they are used
2Define an exchange rate as the price of one currency in another
3Convert simple amounts between two currencies using a given exchange rate
4Explain why exchange rates move and how those moves affect travelers and traders

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