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Currency conversions involve translating the value of one currency into another, such as converting pounds to dollars or dollars to pounds. The exchange rate is the rate at which one currency is exchanged for another. In this case, 100 England Pound Sterling (GBP) can be converted to United States Dollars (USD) using the current exchange rate. Additionally, the mention of an 80,000 lb excavator purchased for $7,500 highlights the potential value differences between currencies and the importance of knowing the current exchange rate when making international transactions.

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