Scenario: Sally Goes to Japan

question 49

Multiple Choice

Scenario: Sally Goes to Japan
Sally Johnson has identified a market for her company's products in Japan. She is excited about expanding her company, but knows that she needs to learn how the foreign exchange market works before she can successfully sell her products abroad.
-If Sally sees a quote of ¥117.87/$,she should know that ________.

• A) the yen is the base currency here
• B) this is a direct quote on the dollar
• C) this is a direct quote on the yen
• D) the quote is in U.S. dollars

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Definitions:

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