Problem:
Benchmark Currency Rates
|
|
USD
|
EUR
|
JPY
|
GBP
|
CHF
|
CAD
|
AUD
|
HKD
|
|
HKD
|
7.7501
|
11.5019
|
0.0856
|
12.7444
|
7.6164
|
7.3204
|
7.0793
|
|
|
AUD
|
1.0948
|
1.6247
|
0.0121
|
1.8002
|
1.0759
|
1.0341
|
|
0.1413
|
|
CAD
|
1.0587
|
1.5712
|
0.0117
|
1.7409
|
1.0404
|
|
0.9671
|
0.1366
|
|
CHF
|
1.0176
|
1.5101
|
0.0112
|
1.6733
|
|
0.9611
|
0.9295
|
0.1313
|
|
GBP
|
0.6081
|
0.9025
|
0.0067
|
|
0.5976
|
0.5744
|
0.5555
|
0.0785
|
|
JPY
|
90.51
|
134.3259
|
|
148.8355
|
88.9489
|
85.4916
|
82.6764
|
11.6785
|
|
EUR
|
0.6738
|
|
0.0074
|
1.108
|
0.6622
|
0.6364
|
0.6155
|
0.0869
|
|
USD
|
|
1.4841
|
0.011
|
1.6444
|
0.9828
|
0.9446
|
0.9134
|
0.129
|
Above is a chart designed to display the cross rates of eight major world currencies. Scan across the chart to find the rate of exchange between any two of these currencies.
Currency key
|
USD:
|
U.S. Dollar
|
CAD:
|
Canadian Dollar
|
|
GBP:
|
British Pound
|
EUR:
|
Euro
|
|
CHF:
|
Swiss Franc
|
AUD:
|
Australian Dollar
|
|
HKD:
|
Hong Kong Dollar
|
JPY:
|
Japanese Yen
|
Use the above chart to determine the cross exchange rate between the Canadian dollar and the Japanese yen. Notice that the value of the pound (in dollars) and the value of the yen (in dollars) are also disclosed. Based on these values, is the cross rate between the Canadian dollar and the yen what you expected it to be? Explain.