32 meters is 35 yards, to within about an eighth of an inch. How's that grab you ?
The reason is fun, and as far as I know, historically unintentional. To convert from 5/(2^n) inches to mm, we multiply by 25.4 mm/in. So we get 5*25.4/(2^n) mm, or 127/(2^n) mm. This is just under (2^7)/(2^n) mm, which simplifies to 2^(7 - n) mm.
This is actually super handy if you're a maker in North America, and you want to use metric in CAD, but source local hardware. Stock up on 5/16" and 5/8" bolts, and just slap 8 mm and 16 mm holes in your designs, and your bolts will fit with just a little bit of slop.
1, 1, 2, 3, 5, 8, 13, 21, 34, 55 …
21 km is ~13 miles, 13 km is ~8 miles, etc.
A 26 mile marathon? Must be ~42km.
Same for speed limits too; 34 mph is ~55 kmh
My favorite approximation is π·E7 = 31415926.5... , which is a <1% error from the number of seconds in a year.
(8/5)/(1 mile/1 km) = 0.9942; (1 mile/1 km)/phi = 0.9946. You're making things way harder on yourself for essentially no improvement in precision, especially when you're just rounding to the nearest whole number.