Purchased in the foreign exchange market

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Reference no: EM13930012

a) Suppose that 1 Swedish krona could be purchased in the foreign exchange market today for $0.36. If the krona appreciated 11% tomorrow against the dollar, how many kronas would a dollar buy tomorrow? Round your answer to 2 decimal places. Do not round intermediate calculations.

b) Suppose the exchange rate between the U.S. dollar and the South African rand was 10 rand = $1 and the exchange rate between the U.S. dollar and the Israeli shekel was 1 shekel = $0.4. What was the exchange rate between the South African rand and the Israeli shekel? Round your answer to 2 decimal places. Do not round intermediate calculations.

Reference no: EM13930012

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