Question
You have 450,000 INR saved up for your vacation. In preparation for the trip you want to exchange your Indian Rupee INR for EUR so
You have 450,000 INR saved up for your vacation. In preparation for the trip you want to exchange your Indian Rupee INR for EUR so you get the following quotes:
| Spot rate on the EUR/USD cross rate |
| 1.32 |
| Spot rate on the INR/USD cross rate |
| 65.0 |
| a. What is the INR/EUR cross rate? |
| b. How many EUR will you obtain for your INR? |
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Financial Markets And Institutions
Authors: Jeff Madura
13th Edition
0357130790, 978-0357130797
