1. Using the currency tables provided in the International Finance Handout (page 9) in Canvas for April 4^th, 2018 (Wednesdays reported price), convert $100,000 to Indian Rupees. You can choose to use either US $ Equivalent or Currency per US $
2. Using the currency tables provided in the international Finance Handout (pages 8 and 9) in Canvas for Friday, March 2^nd, 2018 and Wednesday, April 4^th, 2018, identify whether the US dollar got stronger or weaker relative to the European euro during this time period AND STATE HOW YOU CAN TELL no points will be given if you just identify weaker or stronger..
3. Using the currency tables provided in the International Finance Handout (page 9) in Canvas for April 4^th, 2018 (Wednesdays reported price), calculate the Russian Ruble/Turkish Lira exchange rate (hint rubles should be in the numerator).

Exchange Rates: New York Closing Snapshot Wednesday, April 4th (Source WSJ Online) Country currency Argentina peso Brazil real Canada dollar Chile peso Ecuador US dollar Mexico peso Uruguay peso Americas USD Equiv. Wednesday USD Equiv. Tuesday Currency per USD Wednesday Currency per USD Tuesday 0.0498 0.0496 20.170 20.171 0.3003 0.2993 3.3299 3.3409 0.7831 0.7808 1.2770 1.2808 0.001658 0.001658 603.3 603.3 1 1 1 1 0.0553 0.0549 18.0994 18.2188 0.03521 0.03525 28.40 28.37 Country currency Australian dollar China yuan Hong Kong dollar India rupee Indonesia rupiah Japan yon Malaysia ringgit New Zealand dollar Pakistan rupee Philippines peso Singapore dollar South Korea won Sri Lanka rupee Talwan dollar Thailand baht Vietram dong Asia-Pacific USD Equiv. Wednesday USD Equiv. Tuesday Currency per USD Wednesday Currency per USD Tuesday 0.7715 0.7685 1.2962 1.3012 0.1586 0.1590 6.3057 6.2893 0.1274 0.1274 7.8491 7.8487 0.01538 0.01540 65.018 64.915 0.0000727 0.0000727 13761 13748 0.00837 0.00938 106.77 106.60 0.250 0.2581 3.8757 3.8742 0.7305 0.7253 1.3689 1.3787 0.00864 0.00864 115.73 115.72 0.0192 0.0192 52 097 52.050 0.7622 0.7625 1.3120 1.3115 0.0009449 0.0009479 1058.28 1054.94 0.0064123 0.0064181 155.96 155.81 0.03423 0.03432 29.21 29.14 0.03204 0.03207 31.21 31.18 0.00004383 0.00004384 22816 22810 Country currency Euro area euro Hungary forint Iceland Krona Norway Krone Poland zloty Romania leu Russia ruble Sweden krona Switzerland franc Turkey lira Ukraine hryvnia U.K. pound Europe USD Equiv. Wednesday USD Equiv. Tuesday Currency per USD Wednesday Currency per USD Tuesday 1.2278 1.2271 0.8145 0.8150 0.00394462 0.00393391 253.51 254.20 0.010105 0.010050 90.90 99.02 0.1278 0.1276 7.8230 7.8389 0.2923 0.2925 3.4215 3.4187 0.2632 0.2633 3.7995 3.7979 0.01741 0.01735 57.436 57.621 0.1190 0.1192 8.4012 8.3910 1.0407 1.0432 0.9609 0.9586 0.2500 0.2507 3.9994 3.9887 0.0381 0.0077 26.276 26.550 1.4079 1.4057 0.7100 0.7114 Country currency Bahrain dinar Egypt pound Israel shekel Kuwait dinar Saudia Arabia riyal South Africa rand Middle East Africa USD Equiv. Wednesday USD Equiv. Tuesday Currency per USD Wednesday Currency per USD Tuesday 26522 2.6521 0.3771 0.3771 0.0565 0.0668 17691 17.596 0.2828 0.2832 3.5362 3.5309 3.3382 0.2990 0.2997 0.2667 0.2007 3.7501 3.7502 00342 0.0846 11.8785 11.8239 3.3345 Exchange Rates: New York Closing Snapshot Friday, March 2nd (Source WSJ Online) Country currency Argentina peso Brazil real Canada dollar Chile peso Ecuador US dollar Mexico peso Uruguay peso USD Equiv. Friday 0.0493 0.3074 0.7762 0.0017 1.0000 0.0532 0.0353 Americas USD Equiv. Thursday 0.0496 0.3076 0.7790 0.0017 1.0000 0.0531 0.0353 Currency per USD Friday 20.2637 3.2527 1.2884 598.8000 1.0000 18.8111 28.3400 Currency per USD Thursday 20.1490 3.2515 1.2838 595.9000 1.0000 18.8411 28.3500 Currency per USD Friday 1.2880 6.3485 78311 65.2007 13758 105.74 3.9303 Country/currency Australian dollar China yuan Hong Kong dollar India rupee Indonesia rupiah Japan yen Malaysia ringgit New Zealand dollar Pakistan rupee Philippines peso Singapore dollar South Korea won Sri Lanka rupee Taiwan dollar Thailand baht Vietnam dong USD Equiv. Friday 0.7764 0.1575 0.1277 0.01534 0.0000727 0.00946 0.2544 0.7241 0.00904 0.0193 0.7581 0.0009261 0.0064462 0.03415 0.03181 0.00004394 Asia-Pacific USD Equiv. Thursday 0.7756 0.1573 0.1278 0.01533 0.0000727 0.00941 0.2546 0.7248 0.00904 0.0193 0.7559 0.0009235 0.0064499 0.03413 0.03174 0.00004396 Currency per USD Thursday 1.2893 6.3579 7.8276 65.2300 13748 106.24 3.9275 1.3797 110.6 51.822 1.3229 1062.84 156.04 29.30 1.381 110.62 51.909 1.3191 1079.78 155.13 29.28 31.44 22780 31.51 22750 Country currency Euro area euro Hungary forint Iceland Krona Norway krone Poland zloty Romania leu Russia ruble Sweden krona Switzerland franc Turkey lira Ukraine Hryvnia U.K. pound USD Equiv. Friday 1.2321 0.0039268 0.009943 0.1284 0.2941 0.2844 0.01780 0.1212 1.0861 0.2627 0.0377 1.3802 Europe USD Equiv. Thursday 1.2268 0.00391221 0.009918 0.1275 0.2928 0.2833 0.01762 0.1212 1.0818 0.2828 0.0371 1.3777 Currency per USD Friday 0.8117 254.66 100.57 7.7874 3.3999 3.7815 56.804 8.2510 0.938 3.8071 26.528 0.7245 Currency per USD Thursday 0.8152 256,61 100.83 7.8446 3.4158 3.7974 56.748 8.2488 0.9418 3.8056 26.953 0.7258 Country/currency Bahrain dinar Egypt pound Israel Shekel Kuwait dinar Saudia Arabia riyal South Africa rand USD Equiv. Friday 26528 0.0567 0.2903 3.3326 0.2000 0.0839 Middle East Africa USD Equiv. Thursday Currency per USD Friday 2.6524 0.377 0.0567 17.641 0.2883 3.4450 3.3281 0.3001 0.2666 3.7503 0.0843 11.924 Currency per USD Thursday 0.377 17636 3.4688 0.3006 3.7506 11.859 Correlations Across, Returns and Standard Deviations for Select Global Equity Markets -- January 2007 - October 2017 (US Dollars) Japan UK Canada France China Brazil S. Korea Taiwan S. Africa USA Japan UK Canada France China Brazil S. Korea Taiwan S. Africa USA 1.00 0.73 0.85 0.81 0.83 0.69 0.65 0.76 0.39 0.71 1.00 0.70 0.62 0.69 0.59 0.49 0.64 0.28 0.65 1.00 0.84 0.90 0.73 0.71 0.73 0.39 1.00 0.77 0.73 0.83 0.75 0.38 0.76 1.00 0.69 0.65 0.76 0.38 0.75 1.00 0.72 0.74 0.35 0.76 1.00 0.68 0.36 0.79 1.00 0.48 0.78 1.00 0.35 0.74 1.00 Average Annualized Return Annualized St. Deviation USA 8.23% 15.59% Japan 2.46% 16.62% UK 0.57% 19.70% Canada 0.96% 21.53% France 1.24% 24.00% China 0.11% 26.24% Brazil -3.77% 33.91% S. Korea 2.74% 28.93% Taiwan 5.41% 42.57% S. Africa 2.55% 26.50% Data Source -- Yahoo!Finance Historical Returns Developed Market Market Type Country Ticker Fund Emerging Market Developed USA iwy Russell 3000 Developed UK EWU MSCI UK Average Correlation of US to Other Developed Markets 0.81 Developed Japan EWI MSCI Japan Average Correlation of US to Emerging Markets 0.64 Developed Canada EWC MSCI Canada Average Annualized Return of Developed Markets 2.69% Developed France EWO MSCI France Average Annualized Return of Emerging Markets 1.41% Emerging China FXI FTSE China 25 Average Annualized St. Dev. Of Developed Markets 19.49% Emerging Brazil EWZ MSCI Brazil Average Annualized St. Dev of Emerging Markets 31.63% Emerging S. Korea EWY MSCI S. Korea Emerging Taiwan EWT MSCI Taiwan Emerging S. Africa EZA MSCIS. Africa As mentioned above, normally emerging markets are not only riskier, but generate higher returns. However, the nature of risk implies that this relationship is volatile otherwise they wouldn't really be riskier). Over this 10-year time period for these countries, the safest market (lowest standard deviation) also generated the highest average return. That happened to be the US. It is unlikely (although definitely possible) that the US will generate the highest return over the next 10-year time period. Note that the correlations, while all positive and (except for Taiwan) greater than 0.5, are still well below 1.0. This implies that there is still diversification benefits to be gained through owning international stocks. Exchange Rates: New York Closing Snapshot Wednesday, April 4th (Source WSJ Online) Country currency Argentina peso Brazil real Canada dollar Chile peso Ecuador US dollar Mexico peso Uruguay peso Americas USD Equiv. Wednesday USD Equiv. Tuesday Currency per USD Wednesday Currency per USD Tuesday 0.0498 0.0496 20.170 20.171 0.3003 0.2993 3.3299 3.3409 0.7831 0.7808 1.2770 1.2808 0.001658 0.001658 603.3 603.3 1 1 1 1 0.0553 0.0549 18.0994 18.2188 0.03521 0.03525 28.40 28.37 Country currency Australian dollar China yuan Hong Kong dollar India rupee Indonesia rupiah Japan yon Malaysia ringgit New Zealand dollar Pakistan rupee Philippines peso Singapore dollar South Korea won Sri Lanka rupee Talwan dollar Thailand baht Vietram dong Asia-Pacific USD Equiv. Wednesday USD Equiv. Tuesday Currency per USD Wednesday Currency per USD Tuesday 0.7715 0.7685 1.2962 1.3012 0.1586 0.1590 6.3057 6.2893 0.1274 0.1274 7.8491 7.8487 0.01538 0.01540 65.018 64.915 0.0000727 0.0000727 13761 13748 0.00837 0.00938 106.77 106.60 0.250 0.2581 3.8757 3.8742 0.7305 0.7253 1.3689 1.3787 0.00864 0.00864 115.73 115.72 0.0192 0.0192 52 097 52.050 0.7622 0.7625 1.3120 1.3115 0.0009449 0.0009479 1058.28 1054.94 0.0064123 0.0064181 155.96 155.81 0.03423 0.03432 29.21 29.14 0.03204 0.03207 31.21 31.18 0.00004383 0.00004384 22816 22810 Country currency Euro area euro Hungary forint Iceland Krona Norway Krone Poland zloty Romania leu Russia ruble Sweden krona Switzerland franc Turkey lira Ukraine hryvnia U.K. pound Europe USD Equiv. Wednesday USD Equiv. Tuesday Currency per USD Wednesday Currency per USD Tuesday 1.2278 1.2271 0.8145 0.8150 0.00394462 0.00393391 253.51 254.20 0.010105 0.010050 90.90 99.02 0.1278 0.1276 7.8230 7.8389 0.2923 0.2925 3.4215 3.4187 0.2632 0.2633 3.7995 3.7979 0.01741 0.01735 57.436 57.621 0.1190 0.1192 8.4012 8.3910 1.0407 1.0432 0.9609 0.9586 0.2500 0.2507 3.9994 3.9887 0.0381 0.0077 26.276 26.550 1.4079 1.4057 0.7100 0.7114 Country currency Bahrain dinar Egypt pound Israel shekel Kuwait dinar Saudia Arabia riyal South Africa rand Middle East Africa USD Equiv. Wednesday USD Equiv. Tuesday Currency per USD Wednesday Currency per USD Tuesday 26522 2.6521 0.3771 0.3771 0.0565 0.0668 17691 17.596 0.2828 0.2832 3.5362 3.5309 3.3382 0.2990 0.2997 0.2667 0.2007 3.7501 3.7502 00342 0.0846 11.8785 11.8239 3.3345 Exchange Rates: New York Closing Snapshot Friday, March 2nd (Source WSJ Online) Country currency Argentina peso Brazil real Canada dollar Chile peso Ecuador US dollar Mexico peso Uruguay peso USD Equiv. Friday 0.0493 0.3074 0.7762 0.0017 1.0000 0.0532 0.0353 Americas USD Equiv. Thursday 0.0496 0.3076 0.7790 0.0017 1.0000 0.0531 0.0353 Currency per USD Friday 20.2637 3.2527 1.2884 598.8000 1.0000 18.8111 28.3400 Currency per USD Thursday 20.1490 3.2515 1.2838 595.9000 1.0000 18.8411 28.3500 Currency per USD Friday 1.2880 6.3485 78311 65.2007 13758 105.74 3.9303 Country/currency Australian dollar China yuan Hong Kong dollar India rupee Indonesia rupiah Japan yen Malaysia ringgit New Zealand dollar Pakistan rupee Philippines peso Singapore dollar South Korea won Sri Lanka rupee Taiwan dollar Thailand baht Vietnam dong USD Equiv. Friday 0.7764 0.1575 0.1277 0.01534 0.0000727 0.00946 0.2544 0.7241 0.00904 0.0193 0.7581 0.0009261 0.0064462 0.03415 0.03181 0.00004394 Asia-Pacific USD Equiv. Thursday 0.7756 0.1573 0.1278 0.01533 0.0000727 0.00941 0.2546 0.7248 0.00904 0.0193 0.7559 0.0009235 0.0064499 0.03413 0.03174 0.00004396 Currency per USD Thursday 1.2893 6.3579 7.8276 65.2300 13748 106.24 3.9275 1.3797 110.6 51.822 1.3229 1062.84 156.04 29.30 1.381 110.62 51.909 1.3191 1079.78 155.13 29.28 31.44 22780 31.51 22750 Country currency Euro area euro Hungary forint Iceland Krona Norway krone Poland zloty Romania leu Russia ruble Sweden krona Switzerland franc Turkey lira Ukraine Hryvnia U.K. pound USD Equiv. Friday 1.2321 0.0039268 0.009943 0.1284 0.2941 0.2844 0.01780 0.1212 1.0861 0.2627 0.0377 1.3802 Europe USD Equiv. Thursday 1.2268 0.00391221 0.009918 0.1275 0.2928 0.2833 0.01762 0.1212 1.0818 0.2828 0.0371 1.3777 Currency per USD Friday 0.8117 254.66 100.57 7.7874 3.3999 3.7815 56.804 8.2510 0.938 3.8071 26.528 0.7245 Currency per USD Thursday 0.8152 256,61 100.83 7.8446 3.4158 3.7974 56.748 8.2488 0.9418 3.8056 26.953 0.7258 Country/currency Bahrain dinar Egypt pound Israel Shekel Kuwait dinar Saudia Arabia riyal South Africa rand USD Equiv. Friday 26528 0.0567 0.2903 3.3326 0.2000 0.0839 Middle East Africa USD Equiv. Thursday Currency per USD Friday 2.6524 0.377 0.0567 17.641 0.2883 3.4450 3.3281 0.3001 0.2666 3.7503 0.0843 11.924 Currency per USD Thursday 0.377 17636 3.4688 0.3006 3.7506 11.859 Correlations Across, Returns and Standard Deviations for Select Global Equity Markets -- January 2007 - October 2017 (US Dollars) Japan UK Canada France China Brazil S. Korea Taiwan S. Africa USA Japan UK Canada France China Brazil S. Korea Taiwan S. Africa USA 1.00 0.73 0.85 0.81 0.83 0.69 0.65 0.76 0.39 0.71 1.00 0.70 0.62 0.69 0.59 0.49 0.64 0.28 0.65 1.00 0.84 0.90 0.73 0.71 0.73 0.39 1.00 0.77 0.73 0.83 0.75 0.38 0.76 1.00 0.69 0.65 0.76 0.38 0.75 1.00 0.72 0.74 0.35 0.76 1.00 0.68 0.36 0.79 1.00 0.48 0.78 1.00 0.35 0.74 1.00 Average Annualized Return Annualized St. Deviation USA 8.23% 15.59% Japan 2.46% 16.62% UK 0.57% 19.70% Canada 0.96% 21.53% France 1.24% 24.00% China 0.11% 26.24% Brazil -3.77% 33.91% S. Korea 2.74% 28.93% Taiwan 5.41% 42.57% S. Africa 2.55% 26.50% Data Source -- Yahoo!Finance Historical Returns Developed Market Market Type Country Ticker Fund Emerging Market Developed USA iwy Russell 3000 Developed UK EWU MSCI UK Average Correlation of US to Other Developed Markets 0.81 Developed Japan EWI MSCI Japan Average Correlation of US to Emerging Markets 0.64 Developed Canada EWC MSCI Canada Average Annualized Return of Developed Markets 2.69% Developed France EWO MSCI France Average Annualized Return of Emerging Markets 1.41% Emerging China FXI FTSE China 25 Average Annualized St. Dev. Of Developed Markets 19.49% Emerging Brazil EWZ MSCI Brazil Average Annualized St. Dev of Emerging Markets 31.63% Emerging S. Korea EWY MSCI S. Korea Emerging Taiwan EWT MSCI Taiwan Emerging S. Africa EZA MSCIS. Africa As mentioned above, normally emerging markets are not only riskier, but generate higher returns. However, the nature of risk implies that this relationship is volatile otherwise they wouldn't really be riskier). Over this 10-year time period for these countries, the safest market (lowest standard deviation) also generated the highest average return. That happened to be the US. It is unlikely (although definitely possible) that the US will generate the highest return over the next 10-year time period. Note that the correlations, while all positive and (except for Taiwan) greater than 0.5, are still well below 1.0. This implies that there is still diversification benefits to be gained through owning international stocks