Question
1. At the beginning of January, a US Dollar (USD) was equal to RM4.0887. As of today after 3 months of Covid-19 Restriction Movement Order(MCO)
1. At the beginning of January, a US Dollar (USD) was equal to RM4.0887. As of today after 3 months of Covid-19 Restriction Movement Order(MCO) in Malaysia, the spot rate of USD was RM4.2790.
Required:
a. By what percentage did the value of USD change against Malaysian Ringgit (MYR)?
2. One year ago, you observed that the Chinese Yuan (CNY) was valued at USD0.15 while the Singapore Dollar (SGD) was valued at USD0.74. Today, the yuan is valued at USD0.135 and Singapore Dollar is worth USD0.70.
Required:
- By what percentage did the cross exchange rate of Yuan(CNY) in SGD (the value of CNY in SGD) change over the last year?
- After one year, did the value of Yuan appreciate or depreciate against SGD?
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Contemporary Financial Management
Authors: R. Charles Moyer, William J. Kretlow, James R. Mcguigan
8th Edition
0324065914, 9780324065916
