You will be receiving Mexican pesos, but you need USD. You can change Mexican Pesos into...

Question

Question

You will be receiving Mexican pesos, but you need USD. You can change Mexican Pesos into Canadian Dollars for $16 pesos/C$, and CAD to USD for C$1.10/USD. What is the spot rate for USD/MXP?

Answer 1

Answer #1

16 pesos=1 Canadian Dollar
1.10 Canadian Dollar=1 USD

=>17.60 pesos=1 USD

=>USD/MXP=1/17.60
=>USD/MXP=0.056818182

Answer 2

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