Sarah Shetty lives in Milan, Italy.  She can buy a U.S. dollar for EUR0.9000.  Alex North, living in Chicago, can buy a euro for USD1.1000. What is the foreign exchange rate between the dollar and the euro?

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Assumptions Buy a US dollar in Milan for (EUR USD1.00) Which is equivalent, the reciprocal (USD=EUR1.00) Buy a euro in Chicago for (USD=EUR 1.00) Which is equivalent, the reciprocal (EUR-USD1.00) Values 0.9000 $1.1000