When the US Dollar Is Quoted as $1

question 5

Multiple Choice

When the US dollar is quoted as $1.923 to the pound, this quote is a(n) :

• A)indirect rate.
• B)direct rate.
• C)cross rate.
• D)triangular rate.
• E)None of the above.

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Definitions:

4%

An interest rate or percentage representing a part of a whole, especially in the context of financial rates.

C$ Per US$

The exchange rate determining how much Canadian dollars (C$) you can exchange for one US dollar (US$).

Exchange Rate

The financial value of one currency in the context of another for the purpose of exchange.

C$0.005

Represents a monetary value of five one-thousandths of a Canadian dollar.