Suppose 144 yen could be purchased in the foreign exchange market for one U.S. dollar today....
Suppose 144 yen could be purchased in the foreign exchange market for one U.S. dollar today. If the yen depreciates by 13.0% tomorrow, how many yen could one U.S. dollar buy tomorrow?
a. 143.1936
b. 138.3120
c. 175.7376
d. 162.7200
e. 183.8736
Homework Answers
d. 162.7200
| In forex exchange market, price is given for one currency in the form of second currency. | |||||||
| Here, value of 1 dollar is given in yen. | |||||||
| Depreciation of yen means appreciation of dollar. | |||||||
| So, depreciation in yen value means appreciation of dollar value. | |||||||
| So, value of one dollar now in yen | = | 144.0000 | * | 1.13 | |||
| = | 162.7200 | ||||||
| So, we can buy 162.7200 yen with 1 dollar. | |||||||
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Suppose 144 yen could be purchased in the foreign exchange
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