The exchange rates for OMR and MAD (Moroccan dirham) against USD are as follows: OMR 0.3851 = 1 USD MAD 8.6200 = 1 USD Based on above mentioned exchange rates, determine the cross exchange rate for OMR/MAD and MAD/OMR.
The exchange rates for OMR and MAD (Moroccan dirham) against USD are as follows: OMR 0.3851 = 1 USD MAD 8.6200 = 1 USD Based on above mentioned exchange rates, determine the cross exchange rate for OMR/MAD and MAD/OMR.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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- The exchange rates for OMR and MAD (Moroccan dirham) against USD are as follows:
OMR 0.3851 = 1 USD
MAD 8.6200 = 1 USD
Based on above mentioned exchange rates, determine the cross exchange rate for OMR/MAD and MAD/OMR.
Expert Solution
Step 1
Here the Calculation for the above exchange rate is given below.
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