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