If 1 USDollar Exchanges for 1

question 118

Short Answer

If 1 U.S.dollar exchanges for 1.89 Australian dollars,how much would it cost in U.S.dollars and cents to purchase an Australian video priced at 40 Australian dollars?

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Definitions:

Federal Reserve

The central banking system of the United States, responsible for monetary policy, including regulating banks, managing inflation, and influencing interest rates.

Federal Open Market Committee

The branch of the Federal Reserve System responsible for overseeing the nation's open market operations and making key decisions about interest rates and the growth of the United States money supply.

Discount Rate

The interest rate charged by central banks on loans and advances to commercial banks and other financial institutions.

Reserve Requirements

Reserve requirements are central bank regulations that set the minimum amount of reserves that commercial banks must hold, either in their vaults or deposited with the central bank, as a percentage of their deposit liabilities.