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Fundamentals of Financial Manageme...
Recreate Table 17.2, which shows the currency cross rates, for the same currencies listed above.
Key Currency Cross Rates: Friday, May 29, 2015
TABLE 17.2
Note: Column 1 shows how many units of each foreign currency a U.S. dollar would buy; column 2 shows how many units a euro would buy; and so on for the other columns.
Source: Adapted from “Key Currency Cross Rates,” The Wall Street Journal (online.wsj.com). June 1, 2015.
To prepare: Cross rate table.
Introduction:
Exchange Rate:
The exchange rate is the rate in which price of a country currency is measured in the term of other country’s currency. There are two methods of calculating the exchange rate direct and indirect.
- Direct exchange method: One unit price of the foreign currency is defined in term of domestic currency.
- Indirect method: One unit price of the domestic currency is defined in term of the foreign currency.
Cross rate:
Currency exchange rate of two countries which can be calculated with the help of third country’s currency is called cross rate.
Cross rate table
| Countries |
US dollar | Euro | Pound |
Swiss franc | Peso | Yen |
Canadian dollar |
| Canada | 1.2454 | 1.3690 | 1.9041 | 1.3246 | 0.0810 | 0.0100 | |
| Japan | 124.1400 | 136.4609 | 189.8101 | 132.0357 | 8.0728 | 99.6828 | |
| Mexico | 15... |
Chapter 17 Solutions
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