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    Calculating and Locating Foreign Exchange Rates

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    Describe how to calculate Foreign Exchange Rates. What makes relative exchange rates change? Where can rates be located? What is the difference between Direct quote and Indirect Quote? Show the calculations. Give both for Yen, Canadian Dollar, Mexican Peso, and Euro for 12/1/13 and 12/1/14. How many does $1,000 US equal. What does the difference tell you?

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    Solution Preview

    It is often that we consume products manufactured and services provided by other countries. To be able to pay for these products and services, we, the consuming or importing country, have to obtain the other or exporting countries' currencies. The interaction of the demand and supply for these currencies affect their exchange rates among other factors.

    Rates can be located in financial web sites, but the ...

    Solution Summary

    Word and Excel documents attached show how to find and convert rates, including definitions of direct and indirect quotes.