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Assume that $1 is equal to ¥102.32 and also equal to C$1.0958. Based on this, you could say that C$1 is equal to: C$1(¥102.32 / C$1.0958) = ¥93.37. The exchange rate of C$1 = ¥93.37 is referred to as the:
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Assume that $1 is equal to ¥102.32 and also equal to C$1.0958. Based on this, you could say that C$1 is equal to: C$1(¥102.32 / C$1.0958) = ¥93.37. The exchange rate of C$1 = ¥93.37 is referred to as the:
A) Cross-rate
B) Interest rate
C) Forward rate
D) Open exchange rate
E) Backward rate
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Pirozek
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Final answer:
The exchange rate of C$1 = ¥93.37 is referred to as the Cross-rate.
Step-by-step explanation:
The exchange rate of C$1 = ¥93.37 is referred to as the Cross-rate.
Adam Birenbaum
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Jul 20, 2024
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