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How much euro do get if convert ruble into euro

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Reference no: EM132941528

If you know the spot rates on the dollar/euro and the ruble/dollar, then you can easily calculate the ruble/euro cross rate. Suppose, the spot rate on the dollar/euro is $1.78/€1 and the spot rate on ruble/dollar is Rbl28.95/$1. Now using the ruble/euro cross rate, you can convert ruble to euro or euro to ruble.

Problem 1: Let's say, you have Rbl 50,000 in your pocket. How much euro do you get if you convert your ruble into euro using the cross rate you just calculated?

Reference no: EM132941528

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