Assume an FI Sells A$100 Million for US$ on the Spot

question 37

Multiple Choice

Assume an FI sells A$100 million for US$ on the spot currency markets at an exchange rate of A$1.20 to $US1.00.What is the US$ value of the investment (round to two decimals) ?

• A)$100 million * $1.2 = US$120 000.00 million
• B)$100 million / $1.2 = US$83 333.33 million
• C)$100 million / ($1.2 - US$1.0) = US$500 000.00 million
• D)$100 million * ($1.2 - US$1.0) = US$20 000.00 million

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