Question

The follow table list foreign exchange rates between US dollars and British pounds (GBP) during April

Date	U.S. Dollars per GBP
4/1	1.9564
4/4	1.9293
4/5	1.914
4/6	1.9374
4/7	1.961
4/8	1.8925
4/11	1.8822
4/12	1.8558
4/13	1.796
4/14	1.7902
4/15	1.7785
4/18	1.7504
4/19	1.7255
4/20	1.6914
4/21	1.672
4/22	1.6684
4/25	1.6674
4/26	1.6857
4/27	1.6925
4/28	1.7201
4/29	1.7512

Which day would have been the best day to convert $200 into British pounds? Which day would have been worst day? What would be the difference in pounds?

Answer 1

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Answer:

• The date on which the value of domestic currency is lower than the value of foreign currency is the best day for domestic country.

As per above table on 25^th April the U.S. dollar is $1.6674/pound. Therefore the British Pound for $200 is calculating as below:

So,

The date on which the value of domestic currency is higher than the value of foreign currency is the worst day for domestic country.

As per above table on 7^th April the U.S. dollar is $1.961/pound. Therefore the British Pound for $200 is calculating as below:

Therefore,

• The difference between the values of pound received on above mentioned date is as under:

Therefore the difference between the values of Pound is.