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Fundamentals of Financial Manageme...

14th Edition
Eugene F. Brigham + 1 other
ISBN: 9781285867977

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BuyFindarrow_forward

Fundamentals of Financial Manageme...

14th Edition
Eugene F. Brigham + 1 other
ISBN: 9781285867977
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 19-8. What is the current exchange rate between Swedish kronas and pounds?

Summary Introduction

To determine: The current rate of exchange among the Swedish kronas and pounds.

Introduction:

Exchange Rate: Exchange rate is the cost of a country's money regarding another cash. In this way, a exchange rate has two parts, the local money and an outside cash, and can be cited either specifically or in a roundabout way.

Explanation

Compute the exchange rate between Swedish kronas and pounds

The following rates are quoted from the Foreign Exchange Table in the The Wall Street Journal Online as on 29 Sep 2014.

CurrencyEquivalent to USDEquivalent to per USD
British Pound$1.6242$0.6157
Swedish Krona0.13807.2464

CrossRate=[1dollarsperpound×1

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