The Ecuadorian currency is the American dollar!
As Lewis the Lion tried to find out about the Ecuadorian currency, he was a little bit baffled. He couldn’t seem to find it anywhere on his currency converter on his mobile phone application? In the end he checked in his guide book to discover that Ecuador had adopted the American dollar a number of years ago as its official currency. That made things a bit simpler at any rate!
The only difference was that some of the coins were minted in Ecuador so Lewis the Lion would have to use them there and wouldn’t be able to use them elsewhere, e.g. in the USA.
The American currency is made up of dollars and cents and there are 100 cents in the dollar. (Lewis the Lion remembered that there are a 100 centimetres in a metre and a 100 centilitres in litre to help him!)
The smaller coins took Lewis the Lion a bit of getting used to as the size of them does not always reflect their value, e.g. a 5 cent coin is larger than a 10 cent coin (which is called a dime. A 25 cent coin is called a quarter). Lewis the Lion also discovered that one dollar could either be a coin or a note.
The dollar is currently worth the following values e.g.
£1.00 equals $1.60 (Or approximately one and three-fifths).
So, the other way round, Lewis the Lion realised that:
$1 equals £0.63. (Or roughly three-fifths).
To work any price out, he therefore had to divide by 5 and then times by 3. For example, if his dinner cost $5, he would divide by 5 to give 1, then multiply by 3. So his dinner would cost roughly £3 in pounds.
He now realised the important of fractions that he had been taught in school. All that Maths suddenly started to make sense!
See if you can convert the following amounts into pounds and pence, based on Lewis the Lion’s mathematical calculation. (Divide by 5, then times by 3).
$1?
$2?
$5?
50 cents?
$7?
$10?
$20?
