ya has 400 Euros (the European Union currency) and desires Indian Rupees. Using the foreign exchange data in the above table, which amount comes closest to the amount of he can exchange them for? A. Approximately 26,398 Rupees B. Approximately 6.06 Rupees C. Approximately 15,003 Rupees D. Approximately 10,670 Rupees E. Approximately 6,599 Rupees

Q: Give typing answer with explanation and conclusion  Stephanie G. has just returned from a long trip…

A: The foreign exchange rate is the exchange rate at which the currencies of different countries are…

Q: While on vacation in Europe, you decide to visit Britain. You estimate that you need 200 pounds for…

A: First convert Pounds to dollars=200*1.5867=317.34 dollars

Q: If one British pound can purchase $1.85 U.S. dollars, how many British pounds can one U.S. dollar…

A: Excel spread sheet for calculation of British pounds:

Q: Mo. Jeanette Johnson is going to Saudi Arabia next week for Spring break. She inquires about the…

A: Concept. Bid rate is the buying rate of bank and Ask rate is the selling rate of bank.

Q: You are travelling in Thailand and want to purchase a souvenir for ฿2000. The current exchange rate…

A: When one company transactions with another international company this exchange rate is usually used.…

Q: Before boarding her flight to Zurich, Switzerland, Amber purchased CHF1,100 from her bank when the…

A: The ask/bid price in foreign exchange is used to determine the exchange rate that the brokers offer…

Q: Paula has $100,000.  The following quotations are available to her for US dollars ($), Euros (€) and…

A: Cross exchange rate using French Bank and Japanese Bank =€0.0098/¥ *  ¥90.40/$ = 0.88592 € / $

Q: Shava specializes in cross-rate arbitrage. He notices the following quotes: Swiss franc/dollar =…

A: Arbitrage is a situation where an investor takes advantage of differences in exchange rates in…

Q: Anne Dietz at Changi # 3 (Singapore). Anne Dietz lives in Singapore, but is making her first…

A: We need to use the spot rates provided for Singapore dollar to US" data-mce-style="box-sizing:…

Q: Anne Dietz at Changi #3 (Singapore). Anne Dietz lives in Singapore but is making her first business…

A: The Cross rate refers to the concept which states the foreign rate that tells us the exchange rate…

Q: Angus visits the U.S. using a pre-paid and all-inclusive package. He decides, however, to get some…

A: When he went to U.S. & buys the $110,exchange rate was £1=$1.23 To buy $110, he gave…

Q: A television costs $710 in the United States. The same television costs 628.5 euros. If purchasing…

A: The exchange rate at which currencies of two countries are exchanged immediately by the individual…

Q: Good day,   How should I resolve this question, please?   Your friend from Australia purchased a…

A: Current exchange rate = C$1 = A$1.0227 Value of computer = C$3,900 In Australian dollars, value of…

Q: Isaac Díez. Isaac Díez Peris lives in Rio de Janeiro. While attending school in Spain he meets Juan…

A: Solution is given below :-       €1 = =GTQ 10.5508     R$  1 = =€ 0.5027     R$ 1 = =GTQ…

Q: You often travel to Australia and you need to exchange Australian dollars. Your bank provides the…

A: A rate through which individuals or companies convert their domestic currency with the other…

Q: Upon arrival at the international airport in the country of Canteberry, Charles Alt exchanged $140…

A: The direct exchange rate represents the amount of local currency for one foreign currency whereas…

Q: You go to a bank and are given these quotes:     You can buy a euro for 17 pesos.     The bank will…

A: The Bid price refers to the price that the bank is willing to pay for buying one unit of the…

Q: If one U.S. dollar buys 1.58 Canadian dollars, how many U.S. dollars can you purchase for one…

A: A rate through which individuals or companies convert their domestic currency with the other…

Q: Munich to Moscow. On your post-graduation celebratory trip you decide to travel from Munich,…

A: It represents the foreign currency exchange rate for the transaction between 2 currencies that are…

Q: Suppose a U.S. firm purchases some Chinese handicrafts. The china costs 1,000 Chinese yuan. At the…

A: Handicrafts cost = 1,000 Chinese yuan  $1.00 = 6.2 yuan

Instruments of Foreign Exchange Market

Foreign exchange is a worldwide market in which one nation’s currency is converted into another nation’s currency. In further terms, exchanging of nations currency with foreign currencies. Foreign exchange happens at a specified rate which is termed the foreign exchange rate. The exchange rates are not constant continuously changing as they are derived by market forces of supply and demand. Widely used foreign currencies are the United States- dollar, Euro, Japanese Yen, British pound, and Australian dollar. US- dollar is the most denominated foreign currency. The Euro to US dollar is a widely used currency pair in the forex market as these two currencies represent the world’s enormous economy. Forex trade is simple as exchanging currencies at the bank. The main players of forex markets are the central banks, financial institutions, intermediaries, investments banks, and other banks. Central Bank is the supreme player who decides the currency value of their own nation on the forex market. Mostly foreign exchange-traded at FX market (forex market) when tourists’ visits a foreign country, import, and export happens between two countries.