The table lists foreign exchange rates for August 30, 2018. On that day, how many dollars would be required to purchase 1,000 units of each of the following: British pounds, Canadian dollars, EMU euros, Japanese yen, Mexican pesos, and Swedish kronas? Use the direct quotation for your calculations. Round your answers to the nearest cent. Sample Exchange Rates: Thursday, August 30, 2018 Direct Quotation:U.S. Dollars Required toBuy One Unit ofForeign Currency(1)Indirect Quotation:Number of Units ofForeign Currency perU.S. Dollar(2)Australian dollar0.72641.3767Brazilian real0.24094.1504British pound1.30090.7687Canadian dollar0.77021.2984Chinese yuan0.14616.8448Danish krone0.15656.3889EMU euro1.16700.8569Hungarian forint0.00357015280.10Israeli shekel0.27673.6136Japanese yen0.00901110.99Mexican peso0.052319.1133South African rand0.067914.7205Swedish krona0.10969.1200Swiss franc1.03170.9693Venezuelan bolivar fuerte0.00000403248409.0001Note: Column 2 equals 1.0 divided by Column 1. However, rounding differences do occur.Source: Adapted from The Wall Street Journal (www.wsj.com), August 30, 2018.

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Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter17: Multinational Financial Management

Section: Chapter Questions

Problem 5P: EXCHANGE RATES Table 17.1 lists foreign exchange rates for August 30, 2018. On that day, how many...

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The table lists foreign exchange rates for August 30, 2018. On that day, how many dollars would be required to purchase 1,000 units of each of the following: British pounds, Canadian dollars, EMU euros, Japanese yen, Mexican pesos, and Swedish kronas? Use the direct quotation for your calculations. Round your answers to the nearest cent.

	Sample Exchange Rates: Thursday, August 30, 2018
	Direct Quotation: U.S. Dollars Required to Buy One Unit of Foreign Currency (1)	Indirect Quotation: Number of Units of Foreign Currency per U.S. Dollar (2)
Australian dollar	0.7264	1.3767
Brazilian real	0.2409	4.1504
British pound	1.3009	0.7687
Canadian dollar	0.7702	1.2984
Chinese yuan	0.1461	6.8448
Danish krone	0.1565	6.3889
EMU euro	1.1670	0.8569
Hungarian forint	0.00357015	280.10
Israeli shekel	0.2767	3.6136
Japanese yen	0.00901	110.99
Mexican peso	0.0523	19.1133
South African rand	0.0679	14.7205
Swedish krona	0.1096	9.1200
Swiss franc	1.0317	0.9693
Venezuelan bolivar fuerte	0.00000403	248409.0001
Note: Column 2 equals 1.0 divided by Column 1. However, rounding differences do occur.
Source: Adapted from The Wall Street Journal (www.wsj.com), August 30, 2018.

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