Question

The table lists foreign exchange rates for August 25, 2017. On that day, how many dollars would be required to purchase 1,100 units of each of the following: British pounds, Canadian dollars, EMU euros, Japanese yen, Mexican pesos, and Swedish kronas? Use the direct quotation for your calculations. Round your answers to the nearest cent.

Sample Exchange Rates: Friday, August 25, 2017
	Direct Quotation: U.S. Dollars Required to Buy One Unit of Foreign Currency (1)	Indirect Quotation: Number of Units of Foreign Currency per U.S. Dollar (2)
Australian dollar	$0.7930	1.2610
Brazilian real	0.3160	3.1590
British pound	1.2881	0.7763
Canadian dollar	0.8011	1.2483
Chinese yuan	0.1504	6.6482
Danish krone	0.1603	6.2392
EMU euro	1.1924	0.8387
Hungarian forint	0.00392003	255.10
Israeli shekel	0.2791	3.5834
Japanese yen	0.00914	109.36
Mexican peso	0.0568	17.6164
South African rand	0.0768	13.0178
Swedish krona	0.1255	7.9651
Swiss franc	1.0454	0.9566
Venezuelan bolivar fuerte	0.10014972	9.9851

Note: Column 2 equals 1.0 divided by Column 1. However, rounding differences do occur.

Source: Adapted from The Wall Street Journal (online.wsj.com), August 28, 2017.

1,100 British pounds	=	$
1,100 Canadian dollars	=	$
1,100 EMU euros	=	$
1,100 Japanese yen	=	$
1,100 Mexican pesos	=	$
1,100 Swedish kronas	=	$

Answer 1

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