Chapter 19, Problem 1P

### Fundamentals of Financial Manageme...

15th Edition
Eugene F. Brigham + 1 other
ISBN: 9781337395250

Chapter
Section

### Fundamentals of Financial Manageme...

15th Edition
Eugene F. Brigham + 1 other
ISBN: 9781337395250
Textbook Problem

# EXCHANGE RATE If British pounds sell for $1.30 (U.S.) per pound, what should dollars sell for in pounds per dollar? Summary Introduction 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. Explanation 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,

ExchangeĀ rateĀ ofĀ USĀ dollarĀ inĀ pond=1ExchangeĀ rateĀ ofĀ pondĀ inĀ USĀ dollar

Substitute \$1

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