Question

1. The rates in table one are the amount of each currency that is in an SDR. Calculate the value that an SDR(in terms of US$) had on Friday March 20, 2020 if the exchange rates were as follows (you must show your work for max credit).

Yuan 7.0 yuan/$

Euro $1.10/euro

Yen 108yen/$

Pound $1.28/Pound

Table: Currency units per SDR

Yuan 1.0174

Euro 0.38671

Yen 11.9

Pound 0.0859

Dollar 0.582

The value of an SDR in terms of dollars is

$____________per SDR

Answer 1

The given data is executed in excel:

A B Currency 2 Yuan 3 Euro 4 Yen 5 Pound 6 USD Currency Exchange USD Amount rate Equivalent 1.0174 7.00 0.145342857 0.38671 1.10 0.351554545 11.9 108.00 0.110185185 0.0859 1.28 0.067109375 0.582 1.00 0.582 $ISDR = 1.256191963

The value of an SDR in terms of dollars is $1.256191963 per SDR.

The used excel formula are shown below:

Currency Currency Amount Exchange rate USD Equivalent 1.1 2 Yuan 3 Euro 4. Yen 5 Pound 6 USD 1.0174 0.38671 11.9 0.0859 0.582 108 1.28 =B2/C2 =B3/C3 =B4/C4 =B5/C5 =B6/C6 =SUM(D2:06) $/SDR =

Please don't forget to rate the answer if its helpful, thank you.