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Foreign exchange and commodity prices. While traveling in the following countries, you occasionally resort to U.S. food. You pay the following prices for a Big Mac: India: 214 rupees Kuwait: 1.43 dinars Sweden: 34.54 kronor Ukraine: 135 rubles If the price of a Big Mac is $4.61 in the United States, what are the implied exchange rates for these currencies?

Foreign exchange and commodity prices. While traveling in the following countries, you occasionally resort to U.S. food. You pay the following prices for a Big Mac: India: 214 rupees Kuwait: 1.43 dinars Sweden: 34.54 kronor Ukraine: 135 rubles If the price of a Big Mac is $4.61 in the United States, what are the implied exchange rates for these currencies?

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter13: Emerging Topics In Managerial Accounting
Section: Chapter Questions
Problem 47E: Match each term in Column A with its related definition in Column B. Column A 1. ____________ Spot...
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Foreign exchange and commodity prices. While traveling in the following countries, you occasionally resort to U.S. food. You pay the following prices for a Big Mac: India: 214 rupees Kuwait: 1.39 dinars Sweden: 34.37 kronor Ukraine: 137 rubles If the price of a Big Mac is $4.07 in the United States, what are the implied exchange rates for these currencies? What is the implied direct, or American, exchange rate between the U.S. dollar and Indian rupee? $ 0.0190 per rupee (Round to four decimal places.) What is the implied indirect, or European, exchange rate between the Indian rupee and U.S. dollar? 52.5799 rupees per $ (Round to four decimal places.) What is the implied direct, or American, exchange rate between the U.S. dollar and Kuwaiti dinar? $ 2.9281 per dinar (Round to four decimal places.) What is the implied indirect, or European, exchange rate between the Kuwaiti dinar and U.S. dollar? 0.3415 dinars per $ (Round to four decimal places.) What is the implied direct, or American, exchange rate between the U.S. dollar and Swedish krona? $ 0.1184 per krona (Round to four decimal places.) What is the implied indirect, or European, exchange rate between the Swedish krona and U.S. dollar?
Transcribed Image Text:Foreign exchange and commodity prices. While traveling in the following countries, you occasionally resort to U.S. food. You pay the following prices for a Big Mac: India: 214 rupees Kuwait: 1.39 dinars Sweden: 34.37 kronor Ukraine: 137 rubles If the price of a Big Mac is $4.07 in the United States, what are the implied exchange rates for these currencies? What is the implied direct, or American, exchange rate between the U.S. dollar and Indian rupee? $ 0.0190 per rupee (Round to four decimal places.) What is the implied indirect, or European, exchange rate between the Indian rupee and U.S. dollar? 52.5799 rupees per $ (Round to four decimal places.) What is the implied direct, or American, exchange rate between the U.S. dollar and Kuwaiti dinar? $ 2.9281 per dinar (Round to four decimal places.) What is the implied indirect, or European, exchange rate between the Kuwaiti dinar and U.S. dollar? 0.3415 dinars per $ (Round to four decimal places.) What is the implied direct, or American, exchange rate between the U.S. dollar and Swedish krona? $ 0.1184 per krona (Round to four decimal places.) What is the implied indirect, or European, exchange rate between the Swedish krona and U.S. dollar?
Foreign exchange and commodity prices. While traveling in the following countries, you occasionally resort to U.S. food. You pay the following prices for a Big Mac: India: 214 rupees Kuwait: 1.43 dinars Sweden: 34.54 kronor Ukraine: 135 rubles If the price of a Big Mac is $4.61 in the United States, what are the implied exchange rates for these currencies?
Transcribed Image Text:Foreign exchange and commodity prices. While traveling in the following countries, you occasionally resort to U.S. food. You pay the following prices for a Big Mac: India: 214 rupees Kuwait: 1.43 dinars Sweden: 34.54 kronor Ukraine: 135 rubles If the price of a Big Mac is $4.61 in the United States, what are the implied exchange rates for these currencies?
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