Question

Given these two exchange rates, $1 = 12.349 Mexican pesos and $1-€0.7684, compute the cross- rate between the Mexican peso and the euro. State this exchange rate in pesos and in euros. (Do not round intermediate calculations. Round your answers to 4 decimal places.) Cross rate of 1 peso Cross rate of 1 euro pesos

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Answer #1

Cross rate of 1 peso = 1 peso × ($1 / 12.349 peso) × (€0.7684 / $1) = €0.0622

Cross rate of 1 euro = €1 ÷ €0.0622 per peso = 16.0711 pesos

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Given these two exchange rates, $1 = 12.349 Mexican pesos and $1-€0.7684, compute the cross- rate...
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