Answered: When the direct rate in the United…

When the direct rate in the United States for the euro is USD 0.9568 per EUR, the reciprocal rate is: USD 1.0452 per EUR. EUR 0.0432 per USD USD 0.0432 per EUR. EUR 1.0452 per USD.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter27: Multinational Financial Management

Section: Chapter Questions

Problem 6P

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Question

When the direct rate in the United States for the euro is USD 0.9568 per EUR, the reciprocal rate is:

USD 1.0452 per EUR.

EUR 0.0432 per USD

USD 0.0432 per EUR.

EUR 1.0452 per USD.

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