Question
Consider the expression, MXN/USD .20. Based on what we learned this semester, what does this tell us? Select the most complete answer choice below. I.
Consider the expression, "MXN/USD .20." Based on what we learned this semester, what does this tell us? Select the most complete answer choice below.
I. | The Mexican Peso is the "base" rate. 1 U.S. Dollar is equivalent to 5 Mexican Pesos. The U.S. Dollar is the "counter" or "quote" rate. The U.S. Dollar is weaker than the Mexican Peso. | |
II. | The Mexican Peso is the base rate. 1 Mexican Peso is equivalent to .20 U.S. Dollars. The U.S. Dollar is the "counter" or "quote" rate. The U.S. Dollar is stronger than the Mexican Peso. | |
III. | The Mexican Peso is the "counter" or "quote" rate. 1 Mexican Peso is equivalent to .20 U.S. Dollars. The U.S. Dollar is the "base" rate. The U.S. Dollar is stronger than the Mexican Peso. | |
IV. | The Mexican Peso is the "counter" or "quote" rate. 1 U.S. Dollar is s equivalent to 5 Mexican Pesos. The U.S. Dollar is the "base" rate. The U.S. Dollar is weaker than the Mexican Peso. |
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