What was the direct rate for the us dollar last year

Assignment Help Econometrics

Reference no: EM13239597

Express currencies as USD, MXN, etc. Do NOT use $ before any currencies. Do NOT space between USD and currency value.

Given the following information, answer the questions about exchange rates and exchange rate changes:

On October 31, 2010 the USDMXN was 10.00. On the same date in 2011, the MXNUSD exchange rate was 0.07692

What was the DIRECT rate for the U.S. dollar last year and what was the INDIRECT rate on October 31, 2011?

Reference no: EM13239597

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