Here are the choices for the questions above: Considering what you know, you wou

Question

Here are the choices for the questions above:

Considering what you know, you would need to calculate the:

Indirect

Cross

Direct and indirect quotations have:

A reciprocal

An independent          relationship.

2. Foreign exchange rate quotations Aa Aa An exchange rate is the price of one country's currency expressed in another country's currency. The exchange rates of the euro () and the Japanese yen () relative to the U.S. dollar () are listed as follows: Spot Rate Euro 0.6589 $1 Yen ¥99.44/$1 When exchange rates are stated as quotation, the foreign exchange rate represents the number of American dollars that can be purchased with one unit of domestic currency. How many yen (¥) can one euro (€ 1) purchase? ¥150.92 ¥166.01 ¥181.10 ¥196.20

Explanation / Answer

1 euro can purchase 150.92 yen (99.44÷0.6589)

Considering what you know, you would need to calculate the conversion rate between the euro and yen to get their exchange rate.

Direct and indirect quotations have inverse relationship.

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