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Fundamentals of Financial Manageme...
EXCHANGE RATE If British pounds sell for $1.53 (U.S.) per pound, what should dollars sell for in pounds per dollar?
To determine: The exchange rate of US dollar for a pound.
Introduction:
Exchange Rate:
The rate which indicates the conversion rate for the currency of a country which can be obtained in exchange of currency of another country is an exchange rate.
Given information:
The exchange rate of pound in US dollars is $1.53 per pound.
Formula to calculate the exchange rate of US dollars in pounds,
Substitute $1
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