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Fundamentals of Financial Manageme...
Solutions
Fundamentals of Financial Manageme...
Some of the websites show graphs indicating how one currency has done relative to another currency.
- a. Over the past year, how has the pound performed against the dollar? Does the dollar buy more or less pounds today than it did 1 year ago?
- b. Over the past year, how has the dollar performed against the yen? Does the dollar buy more or less yen today than it did 1 year ago?
a.
To explain: Dollar can be purchased more by pound.
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.
- On the present day, value of 1 pound is equal to the U Country dollar 1.41. it shows that today pound value is better compare to the past year...
b.
To explain: Dollar can be purchased more by yen.
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