Refer to the exchange rates given in the fol-lowing table:Today One Year AgoJune 25, 2010 June 25, 2009Country Per $ Per £ Per ¤ Per $Australia 1.152 1.721 1.417 1.225Canada 1.037 1.559 1.283 1.084Denmark 6.036 9.045 7.443 5.238Euro 0.811 1.215 1.000 0.703Hong Kong 7.779 11.643 9.583 7.750India 46.36 69.476 57.179 48.16Japan 89.35 134.048 110.308 94.86Mexico 12.697 18.993 15.631 13.22Sweden 7.74 11.632 9.577 7.460United Kingdom 0.667 1.000 0.822 0.609United States 1.000 1.496 1.232 1.000Source: U.S. Federal Reserve Board of Governors, H.10 release: Foreign ExchangeRates.Based on the table provided, answer the fol-lowing questions:a. Compute the U.S. dollar-yen exchange rateE$/¥ and the U.S. dollar-Canadian dollarexchange rate E$/C$ on June 25, 2010, andJune 25, 2009
Question
Refer to the exchange rates given in the fol-lowing table:Today One Year AgoJune 25, 2010 June 25, 2009Country Per Australia 1.152 1.721 1.417 1.225Canada 1.037 1.559 1.283 1.084Denmark 6.036 9.045 7.443 5.238Euro 0.811 1.215 1.000 0.703Hong Kong 7.779 11.643 9.583 7.750India 46.36 69.476 57.179 48.16Japan 89.35 134.048 110.308 94.86Mexico 12.697 18.993 15.631 13.22Sweden 7.74 11.632 9.577 7.460United Kingdom 0.667 1.000 0.822 0.609United States 1.000 1.496 1.232 1.000Source: U.S. Federal Reserve Board of Governors, H.10 release: Foreign ExchangeRates.Based on the table provided, answer the fol-lowing questions:a. Compute the U.S. dollar-yen exchange rateE/C$ on June 25, 2010, andJune 25, 2009
Solution
The U.S. dollar-yen exchange rate (E/C$) on June 25, 2010, and June 25, 2009 can be found directly from the table.
a. On June 25, 2010:
- The U.S. dollar-yen exchange rate (E$/¥) was 89.35 yen per U.S. dollar.
- The U.S. dollar-Canadian dollar exchange rate (E) was 1.037 Canadian dollars per U.S. dollar.
b. On June 25, 2009:
- The U.S. dollar-yen exchange rate (E$/¥) was 94.86 yen per U.S. dollar.
- The U.S. dollar-Canadian dollar exchange rate (E) was 1.084 Canadian dollars per U.S. dollar.
Similar Questions
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