Fundamentals of Financial Manageme...
Fundamentals of Financial Manageme...
RESULTS OF EXCHANGE RATE CHANGES Early in June 1983, it took 245 Japanese yen to equal $1. In August 2017, that exchange rate had fallen to 109 yen to $1. Assume that the price of a Japanese manufactured automobile was $9,000 in June 1983 and that its price changes were in direct relation to exchange rates.
- a. Has the price, in dollars, of the automobile increased or decreased during the 34-year period because of changes in the exchange rate?
- b. What would the dollar price of the automobile be in August 2017, again assuming that the car’s price changes only with exchange rates?
a)
To identify: Whether the dollars price of automobile decrease or increase during the 34-year period due to the variations in the exchange rate.
Introduction:
Exchange rate is at which one currency of a country is exchanged with the currency of another country is termed as exchange rate.
- The exchange rate of one dollar in terms of yen was 245 yen in 1983 and 109 yen in 2017...
b)
To determine: The price of the automobile in the year 2015 in terms of Country U dollar.
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