Calculating Cross Exchange Rates. On May 1, 2015, the yen/dollar and euro/dollar exchange rates were 120.15 and

Question:

Calculating Cross Exchange Rates. On May 1, 2015, the yen/dollar and euro/dollar exchange rates were

¥120.15 and €0.8929, respectively. What is the euro/

yen cross exchange rate?

Switzerland has long served as a cornerstone of banking conservatism and a safe port in a world of currency storms.
Swiss banks had long been used by investors from all over the world as financially secure institutions that would preserve the depositor’s wealth with confidentiality. A large part of the security offered was the Swiss franc itself. Russian citizens of wealth had used Swiss banks heavily in recent years as a place where they could shelter their capital from politics, both inside Russia and the outside (EU and US) world. But beginning in the fall of 2014 the Russian ruble’s value began to slide against the Swiss franc, threatening their wealth. Use data in the exhibit and the table below to answer this problem.

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