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7 . The data below represents exchange rates for the U . S . $ and the listed countries. * AUSTRALIA DOLLAR 0 . 7

7. The data below represents exchange rates for the U.S. $ and the listed countries.
*AUSTRALIA DOLLAR 0.7196
BRAZIL REAL 3.7222
CANADA DOLLAR 1.3189
CHINA, P.R. YUAN 6.7115
DENMARK KRONE 6.5378
*EMU MEMBERS EURO 1.1418
HONG KONG DOLLAR 7.8445
INDIA RUPEE 71.2400
JAPAN YEN 109.5700
MALAYSIA RINGGIT 4.1050
MEXICO PESO 19.1635
*NEW ZEALAND DOLLAR 0.6837
NORWAY KRONE 8.4725
SINGAPORE DOLLAR 1.3514
SOUTH AFRICA RAND 13.5800
SOUTH KOREA WON 1117.2900
SRI LANKA RUPEE 179.1500
SWEDEN KRONA 9.0908
SWITZERLAND FRANC 0.9988
TAIWAN DOLLAR 30.7700
THAILAND BAHT 31.3300
*UNITED KINGDOM POUND 1.3062
VENEZUELA BOLIVAR 3290.87
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What is the exchange rate for US dollars and Chinese Yuan from the table? Is that a direct rate or an indirect rate? Explain. Determine either the direct or indirect exchange rate (the one that is not given) between the US $ and the Chinese Yuan. Use the above data table to compute the cross-exchange rate between the New Zealand $ and the Taiwan Dollar. For the countries marked with * the exchange rate is quoted as the number of dollars required to purchase the particular currency. All others are quoted as the number of units of the currency that may be purchased for $1.00. Are the exchange rates with the * direct or indirect exchange rates?

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