The following table provides nominal exchange rates for the U.S. dollar. $$\begin{array} { | l | c | c | }
\hline \multicolumn{1}{|c|} { \text { Cauntry } } & \text { Fareign currency/dallar } & \text { Dollar/iareimn currency } \
\hline \text { Poland (zloty) } & 4.367 & 0.229 \
\hline \text { South Africa (rard) } & 6.944 & 0.144 \
\hline
\end{array}$$
Based on these data, the nominal exchange rate equals approximately ________ zloty per South African rand or, equivalently, ________ rand per Polish zloty.
A)1.590; 0.629
B)0.629; 1.590
C)0.021; 47.640
D)47.640; 0.021

Question

The following table provides nominal exchange rates for the U.S. dollar. $$\begin{array} { | l | c | c | } 
\hline \multicolumn{1}{|c|} { \text { Cauntry } } & \text { Fareign currency/dallar } & \text { Dollar/iareimn currency } \
\hline \text { Poland (zloty) } & 4.367 & 0.229 \
\hline \text { South Africa (rard) } & 6.944 & 0.144 \
\hline
\end{array}$$  
Based on these data, the nominal exchange rate equals approximately ________ zloty per South African rand or, equivalently, ________ rand per Polish zloty.
A)1.590; 0.629
B)0.629; 1.590
C)0.021; 47.640
D)47.640; 0.021

Quizplus · Accepted Answer

To find the exchange rate between zloty and rand, divide the zloty per dollar rate by the rand per dollar rate (4.367 / 6.944 = 0.629 zloty per rand) and its reciprocal for rand per zloty (1 / 0.629 = 1.590 rand per zloty).

The Following Table Provides Nominal Exchange Rates for the U