Maria Elena Sanchez, a young accountant in Madrid, is about to take the trip of a lifetime to Tahiti. She is trying to plan her expenses carefully so that she can afford to buy some exotic black pearls while she is there, so she needs to know how many French Polynesian francs she can buy with her euros. The euro spot rate in the newspaper today is $1.2115/€. She called a friend at a bank who told her that the franc was selling at a rate of XPF92.15/$. What is the exchange rate of francs per euro?

Question

Quizplus · Accepted Answer

To find the exchange rate of francs per euro, you multiply the rate of francs per dollar by the rate of dollars per euro: XPF92.15/$ * $1.2115/€ = XPF111.64/€.

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