The Chinese renminbi is selling for $0.1652 and the British pound is selling for $1.6581. The cross rate between the renminbi and the pound is

Name: The Chinese renminbi is selling for $0.1652 and the British pound is selling for $1.6581. The cross rate between the renminbi and the pound is
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Question

Quizplus · Accepted Answer

The cross rate is calculated by dividing the exchange rate of the renminbi to the dollar by the exchange rate of the pound to the dollar. Therefore, the cross rate is 0.1652 / 1.6581 = 0.0996.

The Chinese Renminbi Is Selling for $0