Find a Web site that shows exchange rates for all major international currencies

Question

Find a Web site that shows exchange rates for all major international currencies. At the time of writing, xe.com and oanda.com are examples of such sites.

A. Is the British Pound shown? If not, why not? (You might have to do some investigation online if you're not familiar with the history of European currency.)

B. What is the exchange rate between the Canadian dollar and the US dollar?

C. xe.com also allows you to see exchange rates for gold ounces (under "more currencies available"). What does xe.com (or a similar site) say 1 ounce of gold is worth in Canadian dollars? In US dollars? What does this imply is the exchange rate between Canadian dollars in US dollars? Is this the same as your answer to part B?

D. If you saw that the US dollar price of gold was one dollar less than the price shown, how could you use that information to make an arbitrage profit?

Explanation / Answer

A.The british piund GBP great britan pound is currency of UK , UK doesnot come under euro zone eur currency , EUR is currency if euro xone countries around 15 countries GBP is seperate for UK.

B.1 canadian dollar = 0.75066 US dollar

C.XAU is symbol for gold ounce , 1 XAU = 1443.78 Canadian dollar

1XAU = 1083.80 USD, This implies 1CAD = 1083.80 /1443.78 = 0.7507 USD, its almost same

D.If USD price of gold is 1$ less than shown then we can buy gold from the exchange where its less and sell it at exchange where its 1$ more to make arbitrage profits.

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