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I'm confused about exchange rates

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posted on Nov, 9 2018 @ 04:40 AM
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Please help me lol. It's been a long time since I traveled abroad and it might be that the caffeine hasn't yet kicked in this morning but....

I'm going on a trip that the currency exchange rate is $1 / 3.35. If I want to tip someone the equivalent of $50, then I would give them ~ 150 of their country's currency, right? Or, would it just be 50 of their currency?

Or, stated another way - Does the exchange rate have anything to do with the actual value of the money to the person being tipped (i.e. it's just cheaper there than it is in the U.S.)?


edit on 9/11/2018 by Iamonlyhuman because: (no reason given)




posted on Nov, 9 2018 @ 04:52 AM
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a reply to: Iamonlyhuman

PROBABLY BE BETTER TO SAY WHERE YOURE FROM AND WHERE YOURE GOING.

sorry for the all caps...caps lock was on



posted on Nov, 9 2018 @ 04:52 AM
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a reply to: sunkuong

From U.S. going to Peru.



posted on Nov, 9 2018 @ 04:53 AM
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a reply to: Iamonlyhuman

I could buy a dozen beers in Bali as opposed to in Australia. Just saying



posted on Nov, 9 2018 @ 04:54 AM
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a reply to: sunkuong

well then the exchange rate is now 3.65
youre even richer than a few minutes ago

sorry, 3.365.

poorer again
edit on 9-11-2018 by sunkuong because: (no reason given)



posted on Nov, 9 2018 @ 04:56 AM
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a reply to: sunkuong

Lol, yay!

Still, what would I tip the person? 150 PEN or 50 PEN?



posted on Nov, 9 2018 @ 05:01 AM
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a reply to: Iamonlyhuman

most cultures dont tip. it is insulting

you can always just give people money if you feel like it, if it isnt illegal



posted on Nov, 9 2018 @ 05:06 AM
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a reply to: Iamonlyhuman

This might help you...

Tipping guide in Peru



posted on Nov, 9 2018 @ 05:28 AM
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For them to get their hands on a u.s. dollar bill is huge



posted on Nov, 9 2018 @ 05:40 AM
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a reply to: Iamonlyhuman

How about 50 x 3.35 = 167.5
Does that sound right?

Hope you have fun!



posted on Nov, 9 2018 @ 05:54 AM
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a reply to: szino9

That helps alot! Thanks.



posted on Nov, 9 2018 @ 06:00 AM
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I don't travel- but if I did I'd tip in USD.
Give them something to talk about.



posted on Nov, 9 2018 @ 06:13 AM
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a reply to: Iamonlyhuman

Oops, pipped to the post.
edit on 9/11/18 by LightSpeedDriver because: Correction



posted on Nov, 9 2018 @ 06:16 AM
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Don't go you will just get robbed or kidnapped.



posted on Nov, 9 2018 @ 06:38 AM
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Be careful with tipping. Inform yourself about a country and it´s culture before you fly there and trample around.

I had zero problems tipping the egyptian military personal at check-points. Do that in most other places and you will land in jail.

Would not do it again in todays times.



posted on Nov, 9 2018 @ 07:03 AM
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a reply to: verschickter

Thanks for that. I am researching all of that today and have found several very informative articles.



posted on Nov, 9 2018 @ 07:10 AM
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You don't really tip in Peru, unless the person does a particularly stupendous act. It's actually kind of rude.

As for your OP, your question would be better formed if you expressed it as a ratio (i.e. 1:3.35).

The current conversion rate is indeed 3.36 Sol to 1 US Dollar. So the Sol is worth about $0.297 (or roughly .30).

I have a project in Peru, and travel there regularly. You'll likely be fine. Where are you going in Peru?



posted on Nov, 9 2018 @ 07:13 AM
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a reply to: SR1TX

I take it you get kidnapped and robbed all the time when you go there, right?



posted on Nov, 9 2018 @ 07:14 AM
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originally posted by: Iamonlyhuman
a reply to: sunkuong

From U.S. going to Peru.


Most countries outside the USA doesn’t actually tip. Keep that in mind. So if your bill is 50 soles, you tip 5 soles, which you can round to 6 soles, and call it good. That would be around 2 dollars.



posted on Nov, 9 2018 @ 07:15 AM
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originally posted by: Iamonlyhuman
Please help me lol. It's been a long time since I traveled abroad and it might be that the caffeine hasn't yet kicked in this morning but....

I'm going on a trip that the currency exchange rate is $1 / 3.35. If I want to tip someone the equivalent of $50, then I would give them ~ 150 of their country's currency, right? Or, would it just be 50 of their currency?

Or, stated another way - Does the exchange rate have anything to do with the actual value of the money to the person being tipped (i.e. it's just cheaper there than it is in the U.S.)?



"If a train is leaving New York at the same time a train is leaving Chicago, but the N.Y. train is going 60 mph....and the other 56.5 mph....how long will it take them to...."

Sorry...just like our old school math story problems.....exchange rates can vary day by day....country by country....I can't help.....

edit on 9-11-2018 by mysterioustranger because: OOPS



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