1- Chantal DuBois lives in Brussels. She can buy a U.S. dollar for €0.7600. Christopher Keller, living in New York City, can buy a euro for $1.3200. What is the foreign exchange rate between the dollar and the euro?
2- In December 1994 the government of Mexico officially changed the value of the Mexican peso from 3.2 pesos per dollar to 5.5 pesos per dollar. What was the percentage change in its value? Was this a depreciation, devaluation, appreciation, or revaluation? Explain.
3- The spot rate for Mexican pesos is Ps12.42/$. If U.S.-based company Amazing Inc. buys Ps500,000 spot from its bank on Monday, how much must Amazing Inc. pay and on what date?
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