On January 25, 2009, one Canadian dollar traded on the foreign exchange market for about 49.0 Indian rupees. Thus, one Indian rupee would have purchased about ________ Canadian dollars.

Question

Quizplus · Accepted Answer

To find out how many Canadian dollars one Indian rupee can buy, we need to take the reciprocal of the exchange rate which is (1/49.0) = 0.0204. Rounded to two decimal places, this is approximately 0.02. Therefore, one Indian rupee can purchase about 0.02 Canadian dollars.

On January 25, 2009, One Canadian Dollar Traded on the Foreign