Quotes for the yen and for the Taiwan dollar (NT$)
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Suppose Dow Chemical receives quotes of $0.009369-71 for the yen and $0.03675-6 for the Taiwan dollar (NT$).
a. How many U.S. dollars will Dow Chemical receive from the sale of ¥50 million?
b. What is the U.S. dollar cost to Dow Chemical of buying ¥1 billion?
c. How many NT$ will Dow Chemical receive for U.S.$500,000?
d. How many yen will Dow Chemical receive for NT$200 million?
e. What is the yen cost to Dow Chemical of buying NT$80 million?
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This posting answers questions based on quotes for the yen and for the Taiwan dollar.
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a. How many U.S. dollars will Dow Chemical receive from the sale of ¥50 million?
ANSWER. Dow must sell yen at the bid rate, meaning it will receive from this sale $468,450 (50,000,000 x 0.009369).
b. What is the U.S. dollar cost to Dow Chemical of buying ¥1 billion?
ANSWER. Dow must buy at the ask rate, ...
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