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a. Suppose the direct exchange rate of the euro is...

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a. Suppose the direct exchange rate of the euro is $1.42. That is $1.42 = 1?. What is the value of a dollar in euros (that is, how many euros do you need for each dollar)? Further, assume Poland?s currency (the zloty) is worth $0.19 and the Japanese yen is worth $0.009. What is the cross rate of the zloty with respect to yen? That is, how many yen equal a zloty?

 

Paper#11848 | Written in 18-Jul-2015

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