If the bank is selling euros for $0.74,then what is the implied euro price of the dollar?

Name: If the bank is selling euros for $0.74,then what is the implied euro price of the dollar?
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Question

Quizplus · Accepted Answer

To find the implied euro price of the dollar, we need to find the reciprocal of the given exchange rate.

Reciprocal of $0.74 = 1/0.74 = 1.35

This means that one euro is implied to be worth $1.35. Therefore, the answer is A) 1.35 €.

If the Bank Is Selling Euros for $0