Read the quotation first
Read the quotation first
An exchange rate prices one currency in units of another. In a quotation of US dollars per £1, the pound is being priced, so the number shows how many US dollars £1 buys.
Step-by-step lessons on OCR GCSE Economics 4.3.4 Analyse exchange rate data. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.