You firm needs to pay its British supplier £1,000,000. If the exchange rate is $1.61/ £, how many dollars will you need to pay the British supplier?
A) $1,610,000
B) $621,118
C) $385,787
D) $1,000,000
Correct Answer:
Verified
Q9: The spot exchange rate is the current
Q10: One British pound can be purchased for
Q11: Multinational firms often use currency forward contracts
Q12: You have just landed in Paris with
Q13: Even though a project may generate foreign
Q15: What is foreign exchange market?
Q16: What are the timings of the foreign
Q17: Suppose a firm imports goods from Europe
Q18: The _ market is where currencies are
Q19: _ are players in the foreign exchange
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents