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I just read your answer to this here https://opentuition.com/topic/sep-2018-2/
But the problem is. Shouldnt it be like
129.2 JPY= 1 Euro
92.7 ARD= 1euro
thus
JPY/ARD =129.2/92.7 ?They are both bid rates aren’t they?
Thanks
When selling JPY to buy EUR the conversion rate is 132.4.
When using EUR to buy ARD the conversion rate is 92.7.
Therefore when selling JPY to buy ARD, the rate is 92.7/132.4
we have done this because we are going to use the JPY loan to buy euros(sell JPY and buy euros) and then we hypothetically sell those euros to buy ARD for investment into the project?
shouldn’t we instead be selling ARD to buy JPY instead?( the ARD we have receive from the project sold to purchase JPY that we need to remit to home country Japan) and hence 95.6/129.2?
No. They are investing JPY for 6 months and then they sell the JPY to buy ARD in order to invest in the project.
ok, thankyou. Makes sense! wish there was a systematic way to find exchange rates though.
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