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    Exchange rate: pesos and dollar

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    Please see below for the solution on a question regarding foreign exchange rates - pesos and dollars in this case. Provide step by step calculations and detailed explanations.

    Currently, in the spot market $1 = 106.5 Japanese yen, 1 Japanese yen = 0.0096 euro, and 1 euro = 10.1 Mexican pesos. What is the exchange rate between the U.S. dollar and the Mexican peso?

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    https://brainmass.com/business/foreign-exchange-rates/exchange-rate-pesos-and-dollar-244128

    Solution Preview

    Problem: Currently, in the spot market $1 = 106.5 Japanese yen, 1 Japanese yen = 0.0096 euro, and 1 euro = 10.1 Mexican pesos. What is the exchange rate between the U.S. dollar and the Mexican peso?

    See below for your solution. There is also a version in the attachment. ...

    Solution Summary

    The following posting helps with exchange rate bases on current amounts (between pesos and dollars). This solution is comprised of a detailed explanation of exchange rate as it pertains to cross rate. The solution also shows a step-by-step explanation and calculation of exchange rate between countries, providing students with a clear perspective of the spot market.

    $2.19

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