The DOLLARFR function in Excel returns the value of a cell multiplied by the exchange rate between the U.S. dollar and the specified currency. For example, if the exchange rate is 1.50 euros per dollar, and the value in a cell is 5 euros, the DOLLARFR function would return the value 7.50 (5x1.50). This function can be used to calculate foreign exchange rates or to convert foreign currency values to U.S. dollars.
The syntax of DOLLARFR in Excel is as follows: =DOLLARFR(value,currency)
value is the amount for which you want to display the currency symbol currency is the three-letter currency code
An example of how to use DOLLARFR in Excel is to create a formula that multiplies the value in a cell by the exchange rate to calculate the equivalent value in a foreign currency. For example, if the exchange rate for euros is 1.2 dollars per euro, and the value in a cell is 50 euros, the formula would be =50*1.2, which would return the equivalent value in U.S. dollars of 60.
DOLLARFR should not be used when you want to calculate the value of a cell that contains a text string. In this case, you should use the Excel function TEXT.
In Excel, the DOLLARFR formula takes a value and converts it to a currency value by multiplying it by the exchange rate in the currency format cells. The following are some similar formulae to DOLLARFR in Excel:
- DOLLAR: Converts a number to a currency value by multiplying it by the exchange rate in the currency format cells.
- XCD: Converts a number to the East Caribbean Dollar currency value.
- EUR: Converts a number to the Euro currency value.
- GBP: Converts a number to the Pound Sterling currency value.
- USD: Converts a number to the US Dollar currency value.