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

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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.

Expert Answer:

Answer rating: 100% (QA)

A Rate for the Malaysian Ringgit MYR against the Namibian Dollar NBD Given 0 057 U View the full answer


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Related Book For  answer-question
International Accounting

International Accounting

ISBN: 978-1260466539

5th edition

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

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Question Details
Chapter # 10
Section: EXERCISES AND PROBLEMS
Problem: 3
Posted Date: September 28, 2023 00:49:08
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