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February 11, 2016 at 1:22 pm
I have another approach:
we than could convert the exchange rate as we are in the euro zone:
we could get
we receive yan so we sell yan for euros
1,000,000/1.2484= 801,025 euros
what do you think about my approach?
John Moffat says
February 11, 2016 at 4:46 pm
That is fine (the small difference is irrelevant).
Although why make extra work converting the exchange rates? If this were an MCQ question then speed it vital 🙂
February 13, 2016 at 9:40 am
Many thanks John!
Sorry for the late reply.
February 13, 2016 at 1:56 pm
You are welcome 🙂
Md. Abdullah Hel Kafi (Rashed) says
December 4, 2015 at 3:56 pm
If my base currency is home currency, I should use sell rate when I received and I should use buy rate when I have to pay. Is it correct concept?
August 6, 2015 at 8:41 am
sir if second currency is home currency …when we pay we divide by lowest (frst one)
if first currency is home curencywhen we pay we multiply by highest (second one)
August 6, 2015 at 8:53 am
It depends whether you are receiving or paying the other currency as to which of the two rates you use.
August 6, 2015 at 3:55 pm
i mean if paying we will use rates which i mentioned earlier ..are they right ?
August 6, 2015 at 4:18 pm
Yes – now you are right 🙂
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