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cross rates

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › cross rates

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
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  • October 20, 2018 at 8:11 am #479264
    richardscully
    Participant
    • Topics: 197
    • Replies: 145
    • ☆☆☆

    dear sir

    If i have two rates USD/GBP 1.9 and Euro/GBP 1.45, what is the rule for which direction you divide. If i take 190/1.45 I get 1.31 (which I believe is correct), but what would stop me from taking 1.45/1.9???

    October 20, 2018 at 11:38 am #479292
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54757
    • ☆☆☆☆☆

    It depends on which way round you want the change rate to be presented.

    Given that 1.9$’s is equal to 1.45 euros, then 1€ = 1.9/1.45 = 1.31$’s, so the exchange rate is $/€ 1.31.

    Alternatively, 1$ = 1.45/1.9 = 0.76€’s, so the exchange rate is €/$ 0.76

    October 22, 2018 at 5:32 am #479415
    richardscully
    Participant
    • Topics: 197
    • Replies: 145
    • ☆☆☆

    Thank you

    October 22, 2018 at 6:15 am #479425
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54757
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘cross rates’ is closed to new replies.

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