ECONOMICS
FINANCIAL MARKETS
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Question
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The given data indicated that the Mexican peso was worth $0.12 and the Canadian dollar was worth $0.66. Under those conditions, the value of the peso in Canadian dollars (C$) is calculated as follows:Value of peso in C$ = Value of peso in $ / Value of C$ in $Value of peso in C$ = $0.12/$0.66 Value of peso in C$ = C$0.182Which of the following statements about the concept of cross exchange rates is not true?
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a Mexican peso is worth about C$0.182.
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The cross exchange rate can also be expressed as the number of pesos that equal a single Canadian dollar. T
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a Canadian dollar is worth about C$0.182.
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exchange rates a Canadian dollar is worth 5.5 pesos
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Explanation:
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