An Omani businessman has just completed transactions in UAE. He is now holding AED 880,000 and $120,000 wants to convert it to Omani rial (OMR). His currency dealer provides this quotation: Bid Ask USD/AED 0.2722 - 08 OMR/USD 0.3846 - 04 What are his proceeds from conversions?
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An Omani businessman has just completed transactions in UAE. He is now holding AED 880,000 and $120,000 wants to convert it to Omani rial (OMR).
His currency dealer provides this quotation:
Bid Ask
USD/AED 0.2722 - 08
OMR/USD 0.3846 - 04
What are his proceeds from conversions?
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- An Omani businessman has just completed transactions in UAE. He is now holding AED 710,000 and SAR 120,000, 000 and $100,000 wants to convert it to Omani rial (OMR).His currency dealer provides this quotation:Bid AskSAR/USD 3.7500 - 12 USD/AED 0.2722 - 08 OMR/USD 0.3846 - 04 What are his proceeds from conversions?An Omani businessman has just completed transactions in UAE. He is now holding AED 710,000 and SAR 120,000,000 and 100,000 wants to convert it to Omani rial (OMR). His currency dealer provides this quotation : Bid Ask SAR/ USD 3.7500 12 USD /AED 0.2722 OMR USD 0.3846 04 What are his proceeds from conversions ?An Omani businessman has just completed transactions in UAE and Europe. He is now holding 4,000,000 and EUR 500, 000 and wants to convert to U.S. dollars. His currency dealer provides this quotation: EUR/USD 1.2000 - 1.2020 USDIAED 0.2722 - 0.2740 What are his proceeds from both conversion?
- Before boarding his flight to Zurich, Switzerland, Ian purchased CHF900 from his bank when the exchange rate was C$1 = CHF0.9753. However, Ian had to cancel the trip. Ian returned to the bank to convert the Swiss currency back into Canadian dollars. If the exchange rate changed to C$1 = CHF0.984, how many Canadian dollars would Ian have lost in these transactions? Assume the bank has a 1.00% commission on both the sale and the purchase of the funds. C Round to the nearest cent Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sureQ2) A. An Omani businessman has just completed transactions in UAE and Saudi Arabia . He is now holding AED 710,000 and SAR 1,210, 000 and wants to convert it to Omani rial (OMR). His currency dealer provides this quotation: Bid Ask SAR/USD 3.7500 - 12 USD/AED 0.2722 - 08 OMR/USD 0.3846 - 04 What are his proceeds from conversions?On December 1,2022, DG Computers Inc. purchased 10 personal computers from Japanese firm for P200,000 Japanese yen. The exchange rate for the Japanese yen is P1=¥2.22 on December 1 and P1=¥2.70 on December 31. Compute for any forex gain (loss).
- The Bank of France sells U.S. dollars ($) at a rate of ($1.40)/(€1) and buys U.S. dollars at a rate of ($1.80)/(€1). At the beginning of a trip, Sandra exchanged $420 to get €233.33. At the end of the trip, she is left with €36, so she exchanges the €36 back to U.S. dollars. How many U.S. dollars will Sandra receive in exchange?Cher has $10,000. The following quotations are available to her for US dollars ($), Convertible Marka (KM), and Swiss Francs (SF). She may either buy or sell at the stated rates: U.S. Bank:$2.13/SF Bosnia Bank:$4.87/KM Swiss Bank:SF2.38/KM What is Cher’s arbitrage profit assuming a triangle arbitrage is possible? (Round answer to nearest whole number.)Satya has 400 Euros (the European Union currency) and desires Indian Rupees. Using the foreign exchange data in the above table, which amount comes closest to the amount of he can exchange them for? A. Approximately 26,398 Rupees B. Approximately 6.06 Rupees C. Approximately 15,003 Rupees D. Approximately 10,670 Rupees E. Approximately 6,599 Rupees
- JJ Fashion Wholesalers Ltd, an Indian clothing manufacturer, has a contract to purchase cotton from an Australian supplier to the value of AUD $700,000. How much will this order cost in Indian rupees (INR) if the bank has quoted JJ Fashion an AUD/INR exchange rate of 54.07 – 54.98 Would JJ Fashion Wholesalers Ltd prefer the AUD/INR exchange rate to be higher or lower? Why?Spindler, Inc. (a U.S.-based company), imports surfboards from a supplier in Brazil and sells them in the United States. Purchases are denominated in terms of the Brazilian real (BRL). During 2020, Spindler acquires 320 surfboards at a price of BRL 1,600 per surfboard, for a total of BRL 512,000.00. Spindler will pay for the surfboards when it sells them. Relevant exchange rates are as follows: Date U.S. Dollar perBrazilian Real (BRL) September 1, 2020 $ 0.220 December 1, 2020 0.210 December 31, 2020 0.230 March 1, 2021 0.215 Assume that Spindler acquired the surfboards on September 1, 2020, and made payment on December 1, 2020. What is the effect of the exchange rate fluctuations on reported income in 2020? Assume that Spindler acquired the surfboards on December 1, 2020, and made payment on March 1, 2021. What is the effect of the exchange rate fluctuations on reported income in 2020 and 2021? Assume that Spindler acquired the surfboards on…Spindler, Inc. (a U.S.-based company), imports surfboards from a supplier in Brazil and sells them in the United States. Purchases are denominated in terms of the Brazilian real (BRL). During 2020, Spindler acquires 300 surfboards at a price of BRL 1,600 per surfboard, for a total of BRL 480,000.00. Spindler will pay for the surfboards when it sells them. Relevant exchange rates are as follows: Date U.S. Dollar perBrazilian Real (BRL) September 1, 2020 $ 0.240 December 1, 2020 0.230 December 31, 2020 0.250 March 1, 2021 0.235 Assume that Spindler acquired the surfboards on September 1, 2020, and made payment on December 1, 2020. What is the effect of the exchange rate fluctuations on reported income in 2020? Assume that Spindler acquired the surfboards on December 1, 2020, and made payment on March 1, 2021. What is the effect of the exchange rate fluctuations on reported income in 2020 and 2021? Assume that Spindler acquired the surfboards on…