Question

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

Answer 1

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.