currency conversion

Definition

The process of converting one form of currency into another country's usable currency. Based on current exchange rates, a person may receive less or more value after the currency is converted. This can be determined by looking at the current exchange rate for the country's currency.

Use currency conversion in a sentence

You should always make sure you shop around and find the best rate you can when dealing with currency conversion.

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Bill and his family were aware of the importance of currency conversion as they began to plan their international vacation.

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It is advisable for tourists to do their currency conversion before departure to their destination country to ensure that the current exchange rate will be sufficient for their financial needs.

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