Question: The table lists foreign exchange rates for August 25, 2017. On that day, how many dollars would be required to purchase 800 units of each
The table lists foreign exchange rates for August 25, 2017. On that day, how many dollars would be required to purchase 800 units of each of the following: British pounds, Canadian dollars, EMU euros, Japanese yen, Mexican pesos, and Swedish kronas? Use the direct quotation for your calculations. Round your answers to the nearest cent.
| Sample Exchange Rates: Friday, August 25, 2017 | ||
| Direct Quotation: U.S. Dollars Required to Buy One Unit of Foreign Currency (1) | Indirect Quotation: Number of Units of Foreign Currency per U.S. Dollar (2) | |
| Australian dollar | $0.7930 | 1.2610 |
| Brazilian real | 0.3160 | 3.1590 |
| British pound | 1.2881 | 0.7763 |
| Canadian dollar | 0.8011 | 1.2483 |
| Chinese yuan | 0.1504 | 6.6482 |
| Danish krone | 0.1603 | 6.2392 |
| EMU euro | 1.1924 | 0.8387 |
| Hungarian forint | 0.00392003 | 255.10 |
| Israeli shekel | 0.2791 | 3.5834 |
| Japanese yen | 0.00914 | 109.36 |
| Mexican peso | 0.0568 | 17.6164 |
| South African rand | 0.0768 | 13.0178 |
| Swedish krona | 0.1255 | 7.9651 |
| Swiss franc | 1.0454 | 0.9566 |
| Venezuelan bolivar fuerte | 0.10014972 | 9.9851 |
| Note: Column 2 equals 1.0 divided by Column 1. However, rounding differences do occur. | ||
| Source: Adapted from The Wall Street Journal (online.wsj.com), August 28, 2017. | ||
| 800 British pounds | = | $ |
| 800 Canadian dollars | = | $ |
| 800 EMU euros | = | $ |
| 800 Japanese yen | = | $ |
| 800 Mexican pesos | = | $ |
| 800 Swedish kronas | = | $ |
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