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On December 13, 2007, 56.65 dollars is worth 27.77 pounds.
On December 13, 2007, 163.23 pounds is worth 332.99 dollars.
The exchange rate of a currency is the rate at which one currency is exchanged for another currency. There are usually two pairs of currency in an exchange rate. The exchange rate given in these question is: 1 pound = 2.04 dollars. This means that 1 pound would buy 2.04 dollars.
In order to determine the value of pounds given the value of the dollars, this formula would be used:
Value in pounds = value of dollars / exchange rate
56.65 / 2.04 = 27.77 pounds
In order to determine the value of dollars given the value of pounds, multiply the given value of dollars by the exchange rate.
Value in dollars = value of pounds x exchange rate
163.23 x 2.04 = 332.99 dollars
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