Suppose That the Following Situation Exists in the Foreign Exchange

question 13

Multiple Choice

Suppose that the following situation exists in the foreign exchange market.1 Canadian dollar buys 9.47 South African rand.If the price of a bottle of South African wine is 53 rand, what is the price in Canadian dollars if purchase power parity exists?

• A)$18.02
• B)$53.00
• C)$5.55
• D)$5.60
• E)$501.91

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