You can exchange $1 for either C$1.2931 or ¥138.07. What is the cross rate between the...
You can exchange $1 for either C$1.2931 or ¥138.07. What is the cross rate between the Japanese yen and the Canadian dollar? That is, solve for ¥ per C$.
Enter your answer rounded off to two decimal points.
Homework Answers
Calculating the rate as Japanese yen/ Canadian dollar
Now,
US Dollar/ C$ = 1.2931
US Dollar/Japanese yen =138.07
Japanese yen/ Canadian dollar =(US Dollar/Japanese yen) / (US Dollar/ C$)
= 138.07/1.2931
=106.77
The cross rate between the Japanese yen and the Canadian dollar is 106.77 ¥ per C$.
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