currency

The monetary system of a particular country is referred to as currency.

For example, the currency of the United Kingdon is the pound (£), and the currency of the United States of America is the dollar ($).

Steffan is going on holiday to Spain. The country’s currency is the euro (€). The exchange rate is £1 = €1.14, and Steffan wants to exchange £400.

Therefore, 400 × 1.14 = €456

This means that Steffan has €456 to spend on his holidays.