This operator takes the first operand "to the power" of the second operand, that is, is equivalent to multiplying the first operand with itself n times, where n is the second operand.

number1 ^ number2  // Returns number
currency ^ number  // Returns number

Number

2 ^ 3         // Returns 8
16.5 ^ (4/3)  // Returns 42.01
$3 ^ 3        // Returns 27