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Exchange rate

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › Exchange rate

  • This topic has 1 reply, 2 voices, and was last updated 8 months ago by John Moffat.
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    Posts
  • June 7, 2022 at 7:33 am #657632
    Lucas.acca
    Member
    • Topics: 8
    • Replies: 8
    • ☆

    Does $/Euro 1.5 same as Euro1.5/ dollar? Normally what i learnt from past year questions was Euro 1.5/ dollar, where the euro is foreign currency and dollar is home currency. Is it possible examiner change the way of the question? This really make me confused!!!!!!!!!!

    June 7, 2022 at 8:32 am #657664
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51556
    • ☆☆☆☆☆

    If the examiner gives an exchange rate as $/€ 1.5, then it means that 1.5 $’s is equal to 1 €.

    Whether the company works in $’s or €’s if of no relevance whatsoever in the way the exchange rate is quoted.

    I do suggest that you watch the first of my free lectures on foreign exchange risk management, because I spend time (with examples) explaining how exchange rate are quoted in the exam.

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