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Sir ,
In CC Co question which is in Kaplan revision kit , they mentioned a spot rate of 0.70 €/$ . The requirement was to calculate money market hedge and forward rate . But my concern is ( does they mean 0.70€ = 1 $ , beacuse when they convert the amount of the machine €1.5 into $ they divided it rather than multiplying by the rate.
Please assist
What the exchange rate if written as above means , is it like what i understood 0.70€ = 1 $ Or the way around and if i was correct why they divide rather than multiplying when converting from € to $You must watch my free lectures, because I spend time in the lectures (with examples) making it very clear how to use the exchange rates.
The lectures are a complete free course for Paper FM and cover everything needed to be able to pass the exam well. I cannot type out all my lectures here 🙂
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