Use the following information to answer the following question(s) .
Below is an excerpt from Table 19.1,Foreign Exchange Rates (December 26,2012) that appears in your text.(Sources The Wall Street Journal,Reuters)
Country/Currency In US$ Per US$
India (Rupee) .01818 55.0155
Britain (Pound) 1.6133 .6198
1-mos forward 1.6133 .6198
3-mos forward 1.6130 .6200
6-mos forward 1.6128 .6200
Canada (Dollar) 1.0074 .9927
Switzerland franc 1.0917 .9160
1-mos forward 1.0928 .9151
3-mos forward 1.0939 .9141
6-mos forward 1.0961 .9123
-To buy one Indian Rupee you would need
A) 1.818 cents.
B) 55.0155 cents.
C) 18.18 cents.
D) .01818 cents.
Correct Answer:
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