Salvatore
c14.tex
V2 - 10/18/2012
1:15 P.M.
Page 430
430
Foreign Exchange Markets and Exchange Rates
■ CASE STUDY 14-3
Foreign Exchange Quotations
Table 14.2 gives the exchange or spot rate for var-
ious currencies with respect to the U.S. dollar for
Friday May 25, 2012—defined first as the dollar
price of the foreign currency (often referred to as
in
direct or “American” terms) and then as the
foreign currency price of the dollar (i.e., in
indi-
rect or “European” terms). For example, next to
the Euro area, we find that the direct spot rate was
$1.2518/
¤1. On the same line, we find that the
indirect or euro price of the dollar was
¤0.7988/$1.
The last column of the table, headed “U.S. $ vs.
■ TABLE 14.2.
Foreign Exchange Quotation, May 25, 2012
Currencies
U.S.-dollar foreign-exchange rates in late New York trading
US$ vs,
—Thurs—
YTD chg
Country/currency
in US$
per US$
(%)
Americas
Argentina
peso
∗
.2239
4
.4668
3
.7
Brazil
real
.5031
1
.9877
6
.5
Canada
dollar
.9716
1
.0293
0
.8
Chile
peso
.001965
509
.00
−
2.1
Colombia
peso
.0005462
1831
.00
−
5.6
Ecuador
US dollar
1
1
Do'stlaringiz bilan baham: