A U.S retailer imports readymade garments worth 120 million rupees from india when the exchange rate is 60 rupees per USD. The import invoice is payable in 3 months. In three months, the exchange rate changes to 55 rupees per dollar. What is the approximate percentage exchange loss or gain from this transaction to the U.S. retailer?

Answer rating: 100% (QA)

Heres how to calculate the approximate percentage exchange rate loss for the US retailer Step 1 Cost ... View the full answer