Currency Exchange Rates - Text vs. Practice

CFA Level II Economics
#1

Does the CFA text not match typcial curreny notation such as what you see on google finance?

CFA text

EUR:USD $1.50 = $1.50 USD for every 1 euro

USD/EUR $1.50 = $1.50 USD for every 1 euro

Google

EUR/USD 1.3225 = $1.3225 for every 1 euro

http://www.google.com/finance#

Google use the “/” symbol when the CFA text would use a “:” Am I reading into this right or am I going crazy?

#2

No, you are not going crazy. I’ve noticied the same thing. The Google notation is presened in the CFAI books as EUR:USD

#3

Yahoo does the same thing.

This is against common useage. If you see an item in a store that says $/Box 2.00, it means one box sells for $2.00. So, EUR/USD 1.3225 should mean $1 sells for 1.3225 euros.

#4

There is a universal convention which quotes every currency (except pound) as equivalent of USD 1. Hence the confusion.

#5

I like that! That would simplify things a great deal…so that everything is priced in dollars.

#6

Thanks guys! I thought I wa losing it!