The COVID-19 pandemic is over, and you decide to celebrate by going on a vacation to Japan. The following quotes are provided by a Foreign Exchange (FX) dealer at the airport. BUY SELL YEN (Japan) 71 70 b) upon returning from the Japan, you have 75 000 YEN which you wish to convert back to AUD. How much will you receive?

The COVID-19 pandemic is over, and you decide to celebrate by going on a vacation to Japan. The following quotes are provided by a Foreign Exchange (FX) dealer at the airport. BUY SELL YEN (Japan) 71 70 b) upon returning from the Japan, you have 75 000 YEN which you wish to convert back to AUD. How much will you receive?

International Financial Management

14th Edition

ISBN:9780357130698

Author:Madura

Publisher:Madura

Chapter3: International Financial Markets

Section: Chapter Questions

Problem 18QA

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The COVID-19 pandemic is over, and you decide to celebrate by going on a vacation to Japan. The following quotes are provided by a Foreign Exchange (FX) dealer at the airport. BUY SELL YEN (Japan) 71 70 a) If you are exchanging 30 000 AUD (Australian Dollars), how many Japanese YEN will you receive? Show workings and a concluding statement in your response.
The COVID-19 pandemic is over, and you decide to celebrate by going on a vacation to Japan. The following quotes are provided by a Foreign Exchange (FX) dealer at the airport. BUY SELL YEN (Japan) 71 70 c) One year later, you are considering to move to Japan to pursue a career as a Pokemon trainer. You check the exchange rates quoted by the same FX dealer at the airport. To your surprise, the rates have dramatically changed. The following quotes are provided by a Foreign Exchange (FX) dealer at the airport. BUY SELL YEN(Japan) 0.65 0.64 What conclusions about the strength of the Australian dollar can be drawn from comparing the current exchange rates with one year ago? Will you receive more or less YEN if you exchanged the same amount of money as you did one year ago?
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