Welcome to a look into our Year 6 club designed to get children thinking about “Me, my life and my money”.
This week we focused on currencies from other countries. We thought about what currencies we have heard of such as the Dollar, Euro, and Yen. We compared bank notes Mrs Davies brought in (left over from her various vacations) and thought about what was similar and what was different to our own bank notes.
We then discussed how we could get the correct currency for travel purposes. We came up with using banks, supermarket and airport beaurex du change and waiting to use the ATM of the country we are visiting.
Did you know the most expensive way to change money is at the airport?! The cheapest way is often to use the country’s local ATM.
We learnt that exchange rates between currencies change EVERY DAY and discussed how much £1 would be worth when spending it abroad.
After watching an informative video on exchanging currencies, our task this week was to use the iPads to research various exchange rates against the pound.
Today, for £1 you would get 1.20 Euro’s, 1.33 US Dollars, 23 South African Rand, 190 Japanese Yen, 5,600 Colombian Peso’s and 32,700 Vietnamese Dong!
Next week, we will be taking a deep dive into banks and how the banking system works.
Thank you for using your inquisitive and enquiring minds to think about finance.
