Mathematical Literacy 009: Contexts focusing on Finance – exchange rates
1,602 views · Published 9 September 2014 · 13:46 · Indexed 24 October 2026
Channel: SABC Education Shows · 2014 · Education
Lesson objectives: Work with exchange rates presented in foreign exchange tables found in newspapers for different currencies. In order to: Estimate the value of a currency in relation to other currencies. Recognise the meaning of the terms “strong” and “weak” with regard to the relationship between different currencies. Develop an understanding of the “buying power” of a currency in a particular country (that is, the value of the currency in relation to the cost of living in that country). Plan trips, to include: • a travel budget • maps and distance tables to organise travel routes# • bus, train, airplane and taxi timetables and fare tables♦ • calendars♦ Additional comments: * The focus in this section is on developing an understanding of the value of a currency in relation to other currencies and on the value of a particular currency in relation to the cost of living in a country, rather than on repetitive calculation using formal mathematical content (that is, ratios and rates) and procedures. + When working with currency conversions, we commonly use estimation (without the need for a calculator) rather than formal mathematical calculations to determine the value of a currency. It is this skill of estimating appropriately that should be the focus of teaching in this section.
