Question

The table lists foreign exchange rates for August 30, 2018. On that day, how many dollars would be required to purchase 1,200 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.

1,200 British pounds	=	$
1,200 Canadian dollars	=	$
1,200 EMU euros	=	$
1,200 Japanese yen	=	$
1,200 Mexican pesos	=	$
1,200 Swedish kronas	=	$

Answer 1

Currency	Units	U.S. Dollars Required to Buy One Unit of Foreign Currency	U.S. Dollars Required to Buy 1200 Units of Foreign Currency
British Pounds	1200	1.3009	$                                     1,561.08	(1200 * 1.3009 )
Canadian Dollars	1200	0.7702	$                                        924.24	(1200 * 0.7702 )
EMU Euros	1200	1.167	$                                     1,400.40	(1200 * 1.167 )
Japanese Yen	1200	0.00901	$                                           10.81	(1200 * 0.00901 )
Maxican Pesos	1200	0.0523	$                                           62.76	(1200 * 0.0523 )
Swedish Krona	1200	0.1096	$                                        131.52	(1200 * 0.1096 )