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The table lists foreign exchange rates for August 30, 2018. On that day, how many dollars...

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 = $

Solutions

Expert Solution

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 )

jeff jeffy answered 2 years ago
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