Suppose the indirect exchange rate for the Canadian dollar is 0.93. Based on this, you know you can buy:

A) $1 U.S. for $0.93 Canadian.
B) $1.93 U.S. for $1 Canadian.
C) $1 U.S. for $1.08 Canadian.
D) $1.08 U.S. for $1 Canadian.
E) $1 U.S. for $1.93 Canadian.

Question

Nazia patel · Accepted Answer

Final Answer : C, Explanation :  The indirect exchange rate of 0.93 means 1 unit of foreign currency (in this case, the Canadian dollar) can buy 0.93 units of the domestic currency (U.S. dollar). To find out how much 1 U.S. dollar is in Canadian dollars, you divide 1 by 0.93, which gives approximately 1.08. Therefore, $1 U.S. can be bought for $1.08 Canadian.

Suppose the indirect exchange rate for the Canadian dollar is 0.93. Based on this, you know you can buy:

A) $1 U.S. for $0.93 Canadian.
B) $1.93 U.S. for $1 Canadian.
C) $1 U.S. for $1.08 Canadian.
D) $1.08 U.S. for $1 Canadian.
E) $1 U.S. for $1.93 Canadian.

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Learning Objectives

Learning Objectives

Related questions

Suppose the indirect exchange rate for the Canadian dollar is 0.93. Based on this, you know you can buy:A) $1 U.S. for $0.93 Canadian.B) $1.93 U.S. for $1 Canadian.C) $1 U.S. for $1.08 Canadian.D) $1.08 U.S. for $1 Canadian.E) $1 U.S. for $1.93 Canadian.

Definitions

Learning Objectives

Learning Objectives

Related questions

Suppose the indirect exchange rate for the Canadian dollar is 0.93. Based on this, you know you can buy:

A) $1 U.S. for $0.93 Canadian.
B) $1.93 U.S. for $1 Canadian.
C) $1 U.S. for $1.08 Canadian.
D) $1.08 U.S. for $1 Canadian.
E) $1 U.S. for $1.93 Canadian.