The Malaysian Ringgit (MYR) does not trade directly against the NBD. However, you know the following forex

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The Malaysian Ringgit (MYR) does not trade directly against the NBD. However, you know the following forex rates against the USD:

0.057 USD = NBD 1.00 (i.e. there are 0.057 USD per NBD)
4.55 MYR = USD 1.00 (i.e. there are 4.55 MYR per USD)

A) What is the rate for the Malaysian Ringgit against the Namibian dollar? In other words, how many MYR are there for one NBD? Give your answer to 4 decimal places.

B) How many Malaysian Ringgit is required to be sufficient to convert them into 4,000,000 NBD? Give your answer to the nearest MYR.

Related Book For answer-question

International Accounting

ISBN: 978-1260466539

5th edition

Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera

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Posted Date: Sep 28, 2023 12:49 AM

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The Malaysian Ringgit (MYR) does not trade directly against the NBD. However, you know the following forex

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A Rate for the Malaysian Ringgit MYR against the Namibian Dollar NBD Given 0057 U... View the full answer

International Accounting

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