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Exchange rate symbols

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

Viewing 4 posts - 1 through 4 (of 4 total)
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  • August 27, 2021 at 2:03 pm #633132
    buondaiqua
    Member
    • Topics: 22
    • Replies: 18
    • ☆

    Hi,
    I have a question relating to the exchange rate symbols.
    For example, we have a figure USD/Euro = 1.2.
    What does this mean and what is considered to be the base and foreign currency?
    I’m confused since my teacher said that in this case, Euro will be base currency and USD is foreign currency however, as I look at other sources they show the opposite answer.
    Thank you so much

    August 27, 2021 at 3:31 pm #633144
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54762
    • ☆☆☆☆☆

    Your teacher is correct, and it means that 1 euro is equal to 1.2 USD.

    I do suggest that you watch again my free lectures on foreign exchange risk management.

    August 28, 2021 at 11:36 am #633240
    buondaiqua
    Member
    • Topics: 22
    • Replies: 18
    • ☆

    Thank you so much 🙂

    August 28, 2021 at 11:53 am #633244
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54762
    • ☆☆☆☆☆

    You are welcome 🙂

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