Suppose That the Following Situation Exists in the Foreign Exchange

question 7

Multiple Choice

Suppose that the following situation exists in the foreign exchange market: 1 Canadian dollar buys $1.01 U.S, and 1 Canadian dollar buys 6.63 South African rand. How many U.S. dollars will one rand buy?

• A)$6.56
• B)$1.01
• C)$0.17
• D)$0.15
• E)$6.63

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