Given these two exchange rates, $1 = 1.43 Australian dollars and $1 = £0.69, compute the cross-rate between the Australian dollar and the pound. State this exchange rate in Australian dollars and in pounds.

Question

Quizplus · Accepted Answer

To find the cross-rate between the Australian dollar and the pound, divide the exchange rate of the Australian dollar by the exchange rate of the pound: 1.43 / 0.69 = 2.0725, which rounds to A$2.07.

Given These Two Exchange Rates, $1 = 1