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If you’ve ever traveled outside of your home
country, there’s a good chance that you’ve already performed a
currency transaction. In most cases, travelers must exchange
their “home” currency for the currency of the country they are
visiting. Please note that there are two currencies
involved in this transaction, but only one exchange rate.
For example, when a traveler from the United States crosses the
border into Canada, he or she now must exchange U.S. dollars for
Canadian dollars. This traveler is essentially selling the U.S.
dollar and buying the Canadian dollar.
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