SPOT EXCHANGE RATES SAR 1 Quotes for Foreign Currencies Country

SPOT EXCHANGE RATES                               

SAR 1 Quotes for Foreign Currencies                                       

Country                               Contract per day                      SAR per Currency    

Canada - dollar                   Spot                                                2.7215

                                                30                                                     2.8514

                                                  90                                                     2.6543

Japan - yen                           Spot                                                       0.0289                                                              

                                                30                                                         0.0290

                                                90                                                           0.0295

Switzerland - franc               Spot                                                         3.6572

                                                 30                                                             3.7942

                                                 90                                                             3.7815

A Saudi business needs to pay (a) 20,000 Canadian dollars, (b) 2.5 million Japanese yen, and (c) 30,000 Swiss francs to buinesses abroad. What are the SAR payments to the respective countries?                                                         

DATA

Saudi business pays in local currency:

Canadian dollars    20,000

Japanese yen    2,500,000

Swiss francs       30,000

In SAR:

a) Canadian payment

b) Japanese payment

c) Swiss payment

UAE business pays SAR 49,500, SAR 57,100, and SAR 62,700 to suppliers in, respectively, Japan, Switzerland, and Canada. The Japanese supplier payment is due in 30 days, as is the Canadian supplier. The Swiss supplier is due in 90 days. How much, in local currencies, would the suppliers receive?                                                            

DATA                                                    

Saudi business pays in SAR:                                                         

Japanese payment                         49,500                 

Swiss payment 57,100                 

Canadian payment                         62,700                 

In local currency:                                                             

a) Japanese yen                                               

b) Swiss francs                                  

c) Canadian dollars                                                         

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