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 (X) relative to the U.S. dollar ($) are listed as follows:Spot Rate0.6589 / $:1EuroYen 99.4400 / $1quotation, the foreign exchange rate represents the number of American dollars that can beWhen exchange rates are stated aspurchased with one unit of foreign currency.Given the exchange rate data above, how many yen (x) can one euro ( 1) purchase?○ ¥ 166.01x181.10○ ¥ 150.92O173.56quotation.The foreign currency price of one unit of the home currency is called

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Asked May 2, 2019
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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 (X) relative to the U.S. dollar ($) are listed as follows:
Spot Rate
0.6589 / $:1
Euro
Yen 99.4400 / $1
quotation, the foreign exchange rate represents the number of American dollars that can be
When exchange rates are stated as
purchased with one unit of foreign currency.
Given the exchange rate data above, how many yen (x) can one euro ( 1) purchase?
○ ¥ 166.01
x181.10
○ ¥ 150.92
O173.56
quotation.
The foreign currency price of one unit of the home currency is called
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An exchange rate is the price of one country's currency expressed in another country's currency. The exchange rates of the euro () and the Japanese yen (X) relative to the U.S. dollar ($) are listed as follows: Spot Rate 0.6589 / $:1 Euro Yen 99.4400 / $1 quotation, the foreign exchange rate represents the number of American dollars that can be When exchange rates are stated as purchased with one unit of foreign currency. Given the exchange rate data above, how many yen (x) can one euro ( 1) purchase? ○ ¥ 166.01 x181.10 ○ ¥ 150.92 O173.56 quotation. The foreign currency price of one unit of the home currency is called

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Expert Answer

Step 1

The exchange rates are stated as “Direct Quotation”.

Justification: A direct quotation is the agreement of communicating currency trade regarding units of domestic currency with foreign currency on unit basis.

Step 2

Calculation of value of Yen can one euro purchase:

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Step 3

Therefore the value of Yen can one euro purchase is ¥150.92.

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Exchange Rate Determination

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