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2. Foreign exchange rate quotations An exchange rate is the price of one country’s currency expressed...

2. Foreign exchange rate quotations

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 ¥ 105.7800 / $1

When exchange rates are stated in 1.(European/American) terms, the foreign exchange rate represents the number of American dollars that can be purchased with one unit of domestic currency.

Given the exchange rate data above, how many yen (¥) can one euro (€ 1) purchase?

¥ 160.54

¥ 192.65

¥ 136.46

¥ 144.49

The foreign currency price of one unit of the home currency is called _(Direct/Indirect)__ quotation.

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Answer #1

given Spot rate € 0.6589 (41) (410 1$ 2 105.78004 porchiar: com one elmo How many yen(4) Х 4/88 9/E че 105.7800 x ㅗ 0.6589 16

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