StudyDaddy Marketing For this assignment, you will practice calculating exchange rates and examine some of the key factors that have an impact on foreign exchange.

For this assignment, you will practice calculating exchange rates and examine some of the key factors that have an impact on foreign exchange.

MBA 6601, International Business Exchange Rate Examples Rates table Country/Currency USD value for 1 unit of another currency (as of 3/15/16) Euro(€) 1.124897 Japanese yen(¥) .008847 Swiss franc(₣) 1.030061 One -step examples Example 1: Convert $3,000 to euros. Divide the dollar amount by the given euro rate (1.124897). $3,000 ÷ 1.124897 = €2,666.91 Example 2 : Convert $3,000 to yen. Divide the dollar amount by the given yen rate (.008847). $3,000 ÷ .008847 = ¥339,098 Example 3: Convert ₣1,500 to U.S. dollars. Multiply the Swiss franc amount by the given Swiss franc rate (1.030061). ₣1,500 * 1.030061 = $1,545.09 Example 4: Convert €16,000 to U.S. dollars. Multiply the euro amount by the given euro rate (1.124897). €16,000 * 1.124897 = $17,998.35 Multiple -step Examples In some cases, it may take a few steps to calculate the currency since only the most frequently used rates are provided by financial media. An example would be converting euros to yen. (You do not have to use this method to complete your assignment if you are familiar with an alternative method.) Example 5: Convert €3,000 to yen Step 1: Convert euros to dollars, €3,000 * 1.124897 = $3,374.69 Step 2: Convert dollars to yen, $3,374.69 ÷ .008847 = ¥381,4 50.32 Example 6: Convert ¥50,000 to Swiss franc s. Step 1: Convert yen to doll ars, ¥50,000 * .008847 = $442.35 Step 2: Convert dollars to Swiss francs, $442.35 ÷ 1.030061 = ₣429.4 4 Practice Country/Currency USD value for 1 unit of another currency Euro(€) 1.121303 Japanese yen(¥) .008878 British pound (£) 1.428021 Convert $8,000 into the following currencies: 1. Euros – 2. Yen – 3. Pounds – Convert the following into U.S. dollars: 4. €1,000 – 5. ¥60,000 – 6. £400 – Convert the following: 7. €2,000 to pounds 8. ¥70,000 to pounds Note: Solutions are on the following page. Solutions 1. €7,134.56 2. ¥901,103.85 3. £5,602.16 4. $1,121.30 5. $532.68 6. $571.21 7. £1,570.43 8. £435.19

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