If the exchange rate was 1.2 Canadian dollars per US dollar, a watch that costs $12 US dollar would cost 14.4 Canadian Dollars.
An exchange rate is the currency difference that two different currencies have this rate converts one currency into another. There are countries whose currency is high and there are small countries whose currency is too low, exchange rate helps to convert currency.
1 US Dollar is equal to 1.2 Canadian Dollars, while calculating the cost of watch we need to multiply the US dollars with the exchange rate given to get the amount in Canadian Dollars.
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