Suppose the exchange rate between U.S. dollars and Swiss francs is SF 0.9704 = $1.00, and...
Suppose the exchange rate between U.S. dollars and Swiss francs is SF 0.9704 = $1.00, and the exchange rate between the U.S. dollar and the euro is $1.00 = 0.9938 euros. What is the cross-rate of Swiss francs to euros (SF/Euro)?
Enter your answer rounded off to FOUR decimal points.
Homework Answers
Ans 1 euro = SF 0.9765
| SF 0.9704 = $1.00 | (1) |
| $1.00 = 0.9938 euros | (2) |
| Comparing both equations we get | |
| 0.9938 euros = SF 0.9704 | |
| 1 euro = SF 0.9704 / 0.9938 | |
| 1 euro = SF 0.9765 | |
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