The following table provides nominal exchange rates for the U.S. dollar. Based on these data, the nominal exchange rate equals approximately ______ zloty per South African rand or, equivalently, ______ rand per Polish zloty.

Question

The following table provides nominal exchange rates for the U.S. dollar.  Based on these data, the nominal exchange rate equals approximately ______ zloty per South African rand or, equivalently, ______ rand per Polish zloty.

Quizplus · Accepted Answer

To find the nominal exchange rate in zloty per rand, we must first find their values with respect to the U.S. dollar. The zloty is 4.367/dollar and the rand is 6.944/dollar, so the zloty to rand ratio is 4.367/6.944 = 0.629 zloty/rand. The reciprocal, 6.944/4.367 = 1.590, is the rate of rand per zloty.

The Following Table Provides Nominal Exchange Rates for the U