Knowee
Questions
Features
Study Tools

If the exchange rate between AUD and USD is AUD$1=USD$0.8, and the exchange rate between AUD and JPY is JPY¥1=AUD$0.013. What is the nominal exchange rate between USD and JPY?Group of answer choicesUSD$1=JPY¥76.9USD$0.8=JPY¥110USD$1=JPY¥96.2More information needed

Question

If the exchange rate between AUD and USD is AUD1=USD1=USD0.8, and the exchange rate between AUD and JPY is JPY¥1=AUD0.013.WhatisthenominalexchangeratebetweenUSDandJPY?GroupofanswerchoicesUSD0.013. What is the nominal exchange rate between USD and JPY?Group of answer choicesUSD1=JPY¥76.9USD0.8=JPY¥110USD0.8=JPY¥110USD1=JPY¥96.2More information needed

🧐 Not the exact question you are looking for?Go ask a question

Solution

To find the nominal exchange rate between USD and JPY, we first need to find out how much 1 USD is in AUD, then convert that to JPY.

  1. Given that AUD1=USD1 = USD0.8, we can find the value of USD1inAUDbytakingthereciprocalof0.8,whichis1/0.8=1.25.So,USD1 in AUD by taking the reciprocal of 0.8, which is 1/0.8 = 1.25. So, USD1 = AUD$1.25.

  2. Next, we convert AUD1.25toJPYusingthegivenexchangerateJPY¥1=AUD1.25 to JPY using the given exchange rate JPY¥1 = AUD0.013. To do this, we divide 1.25 by 0.013, which gives us approximately 96.15.

Therefore, the nominal exchange rate between USD and JPY is USD1=JPY¥96.15.So,theclosestanswerchoiceisUSD1 = JPY¥96.15. So, the closest answer choice is USD1 = JPY¥96.2.

This problem has been solved

Similar Questions

Suppose the Australian dollar floats against the US dollar and the demand for Australian dollars in the foreign exchange market is given by   𝑄=100−50𝐸  where Q denotes the quantity of AUD and  E denotes the nominal exchange rate expressed in USD per AUD.  The supply of Australian dollars is given by 𝑄=20+50𝐸 . What is the equilibrium nominal exchange rate?Group of answer choices0.801.001.201.50

If the exchange rate between AUD and USD is AUD$1=USD$0.7, and the price of good A is AUD$2,000 in Australia, and USD$1,300 in the US. Calculate the real exchange rate of USD (the US) against AUD (Australia). Group of answer choices0.930.460.65More information needed

If USD/JPY is 116.01 and EUR/USD is 1.1597, calculate the (correctly rounded) EUR/JPY rate: Select one: a. 100.0345 b. 134.54 c. 134.5368 d. 100.03

Suppose the GDP of Australia is 100,000 AUD and the exchange rate between AUD and USD is  1.34 AUD=$1. What is the GDP of Australia when measured in USD? Round your answer to the nearest hundredth.

If AUD/USD is 0.7515/19 and EUR/USD is 1.1592/97, calculate the offer rate for AUD/EUR: Select one: a. 0.6480 b. 1.5417 c. 0.6484 d. 0.6486

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.