Assume that $1 is equal to ¥98 and also equal to C$1.21.Based on this,you could say that C$1 is equal to: C$1(¥98/C$1.21) = ¥80.99.The exchange rate of C$1 = ¥80.99 is referred to as the:
A) open exchange rate.
B) cross-rate.
C) backward rate.
D) forward rate.
E) interest rate.
Correct Answer:
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