Look up the 6 currencies in the tables in the foreign exchange section of a curr

Question

Look up the 6 currencies in the tables in the foreign exchange section of a current issue of The Wall Street Journal.

Look up the 6 currencies in the tables in the foreign exchange section of a current issue of The Wall Street Journal.

Sample Exchange Rates: Wednesday, August 3, 2011 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) British pound 1.6426 0.6088 Canadian dollar 1.0392 0.9622 Euro 1.4323 0.6982 Japanese yen 0.01297774 77.06 Mexican peso 0.0846 11.8205 Swedish krona 0.1577 6.3420 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 4, 2011.
Sample Exchange Rates: current 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) British pound 1.6892 0.5920 Canadian dollar 1.0923 0.9155 Euro 1.5132 0.6609 Japanese yen 0.01321111 75.6939 Mexican peso 0.0862 11.6009 Swedish krona 0.1596 6.2657 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), current

1. What is the current exchange rate for changing dollars into 700 units of pounds? Round your answer to the nearest cent. Use minus sign to enter negative changes, if any.
   $  
   
   What is the current exchange rate for changing dollars into 700 units of Canadian dollars? Round your answer to the nearest cent. Use minus sign to enter negative changes, if any.
   $  
   
   What is the current exchange rate for changing dollars into 700 units of euros? Round your answer to the nearest cent. Use minus sign to enter negative changes, if any.
   $  
   
   What is the current exchange rate for changing dollars into 700 units of yen? Round your answer to the nearest cent. Use minus sign to enter negative changes, if any.
   $  
   
   What is the current exchange rate for changing dollars into 700 units of Mexican pesos? Round your answer to the nearest cent. Use minus sign to enter negative changes, if any.
   $  
   
   What is the current exchange rate for changing dollars into 700 units of Swedish kronas? Round your answer to the nearest cent. Use minus sign to enter negative changes, if any.
   $  
2. 
   
3. What is the percentage gain or loss between the August 3, 2011, exchange rate and the current exchange rate for each of the currencies in Part a? Round your answers to two decimal places. Use minus sign to enter negative changes, if any.
   
   British pound % Canadian dollar % EMU euro % Japanese yen % Mexican peso % Swedish krona %

Explanation / Answer

1.a) changing dollor to 700 units of pounds = 700*1.6892 = 1182.44

b) canadian dollars = 700*1.0923 = 764.61

c) euro = 700*1.5132 = 1059.24

d) yen =700*0.01321111 = 9.248

e) peso = 700*0.0862 = 60.34

f) krona = 700*0.1596 = 111.72

the number of dollors required to buy other currencies increased from 2011 to current.

3. british pound : (1.6892-1.6426)/1.6426 *100= 2.8%

canadian dollar : 5.1%

euro : 5.64%

yen :1.8%

peso : 1.9%

krona : 1.2%

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