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In this video, we learn how to convert currency using the exchange rate. John wants to convert 15,000 US dollars to Euros, with an exchange rate of 1 US dollar to 0.9 Euros. To calculate the amount in Euros, we set up a fraction with the given US dollars on the numerator and the exchange rate on the denominator. By ensuring that the units cancel out correctly, we can determine the amount in Euros John will receive.