CURRENCY

What is Currency? Currency is the money the government and the people use within a given country Every country has their own type of currency In the U.S. this is the DOLLAR ($) 1 unit of currency in one country is not equal to 1 unit of currency in another country

Currency in Spanish-Speaking Countries Each Spanish-Speaking Country has their own form of currency. Each Spanish-Speaking Country’s currency is valued at a different amount in comparison to the U.S. Dollar.

Exchange Rate Exchange rate = How much one currency is worth in terms of another currency A high exchange rate means that a currency is more highly demanded than another U.S. Dollar is demanded more than the Colombian Peso $1 = 2000 Pesos A low exchange rate means that a currency is not as highly demanded as another U.S. Dollar is demanded less than the Spanish Euro $1 = 0.75 Euros

EXAMPLES OF CURRENCY FROM SPANISH-SPEAKING COUNTRIES

PESO Argentina  $1 = 5 Pesos Chile  $1 = 530 Pesos Colombia  $1 = 2000 Pesos

PESO Cuba  $1 = 25 Pesos Dominican Republic  $1 = 35 Pesos Mexico  $1 = 12 Pesos Uruguay  $1 = 20 Pesos

EURO Spain Also used in the rest of the European Union $1 = 0.75 Euros

DOLAR El Salvador $1 = 9 Dolares BOLIVAR Venezuela $1 = 4 Bolivares

QUETZAL Guatemala $1 = 9 Quetzals COLON Costa Rica $1 = 550 Colones

BOLIVIANO Bolivia $1 = 7 Bolivianos LEMPIRA Honduras $1 = 20 Lempiras

CORDOBA Nicaragua $1 = 20 Cordobas GUARANI Paraguay $1 = 5000 Guaranis

U.S. DOLLAR Panama (Balboas) Ecuador NUEVO SOL Peru $1 = 3 Nuevo Sol

CONTEXT Why do we need to know this?

Why is this important? Part of learning a language is learning the culture in a way that you would be able to function in a different country Knowing about currency and how to convert it is a helpful tool in traveling

Currency Conversion To determine how many U.S. dollars you spend: How much you spent in other currency Exchange Rate EXAMPLE: You spent 10,000 Colombian Pesos on a shirt. The exchange rate is $1.00 = $2,000 Pesos. How much money did you actually spend? 10,000 ÷ 2,000 = $5.00

ACTIVIDAD ¿PRECIO BUENO O PRECIO MALO?

Apple Bottom Jeans You paid 12,000 Mexican Pesos $1 = 12 Pesos ¿PRECIO BUENO O PRECIO MALO?

Video Game You paid 20 Euros Spain $1 = 0.75 Euros ¿PRECIO BUENO O PRECIO MALO?

Flamin’ Hot Cheetos You paid 200 Cuban Pesos $1 = 25 Cuban Pesos ¿PRECIO BUENO O PRECIO MALO?

Jay-Z CD You paid 100 Lempiras Honduras $1 = 20 Lempiras ¿PRECIO BUENO O PRECIO MALO?

Pack of Frooties You paid 10,000 Guaranis Paraguay $1 = 5,000 Guaranis ¿PRECIO BUENO O PRECIO MALO?

ACTIVIDAD You have $10 to spend while traveling in Argentina The Exchange Rate is $1 = 5 Pesos Use ALL $10 to purchase 1 or more of the items throughout the room