Spot exchange rate is the form of exchange rate set for immediate delivery. It represents what the person buying it would pay for or expects to pay for a foreign currency in another currency. Its also refer to as “benchmarks rates”. It’s generally accepted to be a form of contract that must be settled in …
It is said, “A currency’s value mirrors the fundamental strength of its underlying economy, relative to other economies. ” A situation is given to determine the exchange rate of the Mexican Peso (MP) against the US Dollar at the end of 2008. The exchange rate derived is MP9. 5 = $1. The formula used to …
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