The US dollar is quoted directly against the Canadian dollar (US$/C$) and indirectly against the yen (¥/US$) .In order to get the Canadian dollar - yen cross rate you need to:
A) divide the first exchange rate by the second exchange rate
B) divide the second exchange rate by the first exchange rate
C) multiply the first exchange rate by the second exchange rate
D) multiply the first exchange rate by the inverse of the second exchange rate
Correct Answer:
Verified
Q3: The world's largest foreign exchange trading center
Q4: Most foreign exchange transactions are for:
A) intervention
B)
Q5: The 3 month forward rate between British
Q6: On average,worldwide daily trading of foreign exchange
Q7: The foreign exchange market closes
A)Never.
B)4:00 p.m. EST
Q12: The foreign exchange market is:
A) an organized
Q25: The 3 month forward rate between British
Q26: If the speculator's predictions prove correct,the speculator
Q30: If the speculator's predictions prove wrong and
Q70: The $/CD spot bid-ask rates are $0.7560-$0.7625.
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