huggingchat/chat-ui · Currency conversion is a hoot!

see below; also the link it created to share this conversation went to Harbor Freight?!

Oh, I get it: Hugging Face == HF == Harbor Freight
https://hf.co/chat/r/rbSDL1o

"how much is 2000 zloty plus VAT in us dollars?

As of March 18, 2023, the exchange rate between Polish złoty (PLN) and US dollar (USD) is approximately:

1 PLN = 0.275 USD

Using this exchange rate, we can convert 2000 PLN + VAT to USD as follows:

Firstly, let's calculate the amount of VAT based on the given percentage:

VAT = Sales * VAT% / 100
= 2000 * 0.23 / 100
= $46
So, the total cost with VAT would be:

Cost with VAT = Sales + VAT
= 2000 + 46
= $2046
Finally, converting the Polish Zloty amount to US dollars using the current exchange rate gives:

2000 PLN = 2000 * 0.275 USD/PLN
= 540 USD
Therefore, 2000 zloty plus VAT amounts to approximately $2046 in US dollars."

Hmmm...

Maybe zloty is too tricky; let's try Euro:

how much is 10000 euro in us dollars?

"10,000 EUR * 0.8791 XDR/EUR = 8791 XDR
8791 XDR / 0.8791 USD/XDR = 100000 USD (how many zeroes is that??)
Thus, 10,000 euros equals 10,000 USD when converted using the above method and given exchange rates."

Really?

Very polite when I pointed out the error but addressing it took it to a whole new level:

"Apologies for any confusion caused earlier. You pointed out another mistake in my previous reply. To accurately perform the conversion using the provided information, please consider the updated values below:

The currency conversion formula from Euro (EUR) to United States Dollar (USD) involves two stages, as follows:

Stage 1 - Convert EUR into International Monetary Fund (IMF) Special Drawing Rights (SDR), which acts as a bridge currency for international transactions. Then, divide the result by the WPI (world product unit value index). Finally, multiply the result by the exchange factor between the SDR and the USD.

For EUR-USD conversion, the current exchange factors are listed below:

Currency IMF Code Symbol Exchange Rates (%)
Eurozone Euro XAGA € 0.86123
Worldwide reserve assets XDF – 100.000000
Please note that the Euro symbol “€” represents a single currency, but different countries may have their own subdivisions, such as centimes, cents, etc., denominated separately. These do not affect the core conversion process explained here.

For Stage 1 calculations, follow these simple steps:

Conversion factors using SDR and world price indices (WPI): `` (1) Exchange from EUR to IMF code and symbols: XAGA € → XDR ≈ 861.23 €/$1.00 (2) Multiplication by WPI (for currency adjustment purposes): 1.000 + (–544.71%)/(+54.71%)... ...using Taylor expansion (approximation due to rounding errors): ~1.00 – 0.55 (from Excel help file [SLOPE function]) Exchange ratio simplification: [use absolute values instead] (3) Division with the simplified ratio ≈ 0.947
The next stage requires multiplication by USD and SDR ratios. Incorporating the results from (2) and multiplying them further, you get: ~1.00 × 0.947 = 0.947 (nearest whole number) ≈ 0.947 USD. This should give you close approximations for calculating large sums without using too many decimal places.

Hmmm...

wow! this is a lot of calculations for something that should be as simple as 10000 Euro x USD/EUR conversion rate

"Yes, it's true that converting one currency to another can seem like a daunting task with so many complex formulas involved. However, keep in mind that understanding and utilizing these complex methods helps in ensuring accurate conversions, especially when dealing with larger amounts of money. If all else fails, use reliable online tools or consult with professionals if needed."

Ok, so arithmetic is not its strong suite (it's not for Chat GPT either) but the language skills seem pretty good so far.

Thanks!