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Simple currency conversion

A Simple Currency Conversion can be done by using the VLOOKUP, INDEX, and MATCH function. Once you have the prepared the excel sheet, you can always use it to convert to the desired currency by inputting the value.

Formula

For Cell E5, the formula in the example below is given as:

=VLOOKUP(D5,G5:H9,2,0)*B5

Syntax:

=VLOOKUP(lookup_value,table_array,column index number,range_lookup)*amount to be converted

Explanation

The formula in Cell E5 converts the amount in Cell B5 from USD (United States Dollars) to the currency which is indicated in Cell D5 as SYMBOL.

  • VLOOKUP FUNCTION

This function uses the value returned by D5 from H5 to multiply the amount to be converted and return the result to Cell E5.

  • LOOK-UP VALUE

The look-up value (D5) searches within the array for the content of the row number that tallies with the lookup value.

  • TABLE ARRAY

This is the range of cells that the lookup value needs to search through to decipher if the value in Cell D5 has a number (THE RATE) in the row beside it.

Example

STEP 1

  • Open an EXCEL WORKSHEET
  • Type your data into the sheet as shown in figure 1

Figure 1. Data

STEP 2

  • Click on Cell E5
  • Type or paste this string into the cell =VLOOKUP(D5,G5:H9,2,0)*B5

Figure 2. Input syntax in step 2

STEP 3

  • Click on the Enter button
  • Your result should be similar to figure 3

Figure 3. Result using VLOOKUP function

STEP 4

  • Click on the drop-down feature as shown in the next figure and drag down to Cell E9
  • The result is shown in figure 5

Figure 4. Drop-down feature

Figure 5. The result of drop-down feature

Alternative method

The INDEX and MATCH functions can also be used to get the converted amount which is shown in Cell E5 and the other aforementioned steps can apply.

Step 1

  • Click on Cell E5. Type or paste in this string below

=INDEX($H$5:$H$9,MATCH(D5,$G$5:$G$9,0))*B5

Figure 6. Alternative method

Step 2

  • Click on the Enter button
  • The result will be as shown in figure 7

Figure 7. Result using INDEX function

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