Using the AUD/USD and USD/JPY rates provided, select the correct AUD/JPY cross rate: AUD/USD: 0.7442 USD/JPY: 111.88 a. 0.0067 b. 83.2611 c. 83.26 d. 150.34
Question
Using the AUD/USD and USD/JPY rates provided, select the correct AUD/JPY cross rate:
AUD/USD: 0.7442
USD/JPY: 111.88
a. 0.0067
b. 83.2611
c. 83.26
d. 150.34
Solution
To calculate the AUD/JPY cross rate, you need to multiply the AUD/USD rate by the USD/JPY rate.
Here's how you do it:
- Take the AUD/USD rate: 0.7442
- Multiply it by the USD/JPY rate: 111.88
- The calculation is: 0.7442 * 111.88 = 83.2611
So, the correct AUD/JPY cross rate is 83.2611. Therefore, the correct answer is b. 83.2611.
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