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Dear John, can you please help me
In a question there is the spot rate for CAD1.570/Pound and JPY132.75/Pound. A Japanese company has to pay a canadian company CAD3.2M.
How do i calculate the spot rate for conversion.
Thank you1 Pound = 1.570 CAD
1 Pound = 132.75 JPYTherefore, 1.570 CAD = 132.75 JPY
Therefore 1 CAD = 132.75/1.570 JPY = 84.554 JPY
(So 3.2M CAD = 3.2M x 84.554 JPY)
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