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Fundamentals Of Financial Manageme...

10th Edition
Eugene F. Brigham + 1 other
ISBN: 9781337902571

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BuyFindarrow_forward

Fundamentals Of Financial Manageme...

10th Edition
Eugene F. Brigham + 1 other
ISBN: 9781337902571
Textbook Problem

CROSS RATES Use the foreign exchange section of a current issue of The Wall Street journal to look up the three currencies in Problem 17-8. What is the current exchange rate between Swedish kronas and pounds?

Summary Introduction

To explain: The current Exchange rate between Swedish kronas and pound.

The exchange rate is the rate in which price of the country currency is measured in the term of the other country. There are two methods of calculating the exchange rate direct and indirect.

Currency exchange rate of the two countries is called cross rate.

Explanation

The formula to calculate the current exchange rate between Swedish kronas and pound:

Swedishkronas=SwedishkronasPounds

Calculate the current excha

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