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Current exchange rate between rmb and dollar

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Reference no: EM133215262

An iPhone price in China is RMB 8,700; The same model is sold in the U.S. at $999. If the current exchange rate between RMB and dollar is RMB 6.35 /$.

  • Please convert the RMB price into U.S. dollar price.
  • Please calculate the real exchange rate between China and U.S.
  • Based on your answer, which currency is overvalued and why?

Reference no: EM133215262

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