Watch: What is currency?
Currency is the money that a country uses.
In the UK, it's the pound.
Different countries have different currencies.
You can convert money from one currency to another so you can buy things if you go on holiday abroad for example.
Narrator: Hey Brain, have you got a spare pound I can borrow?
Brain: Brain.
Narrator: Oh no I don't want to spend it Brain, I want to convert it!
Brain: Brain?
Narrator: Well Brain, have you ever wondered what money is like in other countries?
Brain: Cerveau!Cervello!
Narrator: In most of Europe, instead of the pound, they use the euro.
Brain: Brain!
Narrator: But if you were to change your pound into a euro, you'd get more than 1 euro back.
Brain: Brain!
Narrator: That is because of something called the exchange rate.
Exchange rate is how we work out the value of one currency when it is turned into another.
It is changing all the time between each country.
Brain: Brain!
Nao!
Narrator: Lots of different countries have their own currencies.
And they all have their own exchange rates.
Phew! I'm keeping your pound by the way Brain.
Brain: Brain?
Narrator: Only pulling your leg you scamp!
Brain: Brain!
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