Contract Note statement - "Exchange Rate"

Noob question incoming…
So I know on the contract note the “charges and fees” is the stamp duty tax, however I am unsure of why I have been charged for “Exchange Rate”…

Scottish Mortgage IT - SMT
Vanguard S&P 500 - VUSA

Could someone explain this to me, and why its different for each investment even though both listed on London Stock Exchange
Thank you

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@KingsCross The “Exchange Rate” isn’t actually a charge, It just represents the conversion rate.
GBP <-> GBP = 1:1
GBP <-> GBX = 100:1 or in your case 1:0.01

VUSA is traded in GBP so the exchange rate is 1:1. SMT is in GBX so the exchange rate is 1:0.01

Thank you for the quick reply David
Much appreciated

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