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?Suppose the exchange rate between U
?Suppose the exchange rate between U.S. dollars and Swiss francs is SF 0.9565 = $1.00, and the exchange rate between the U.S. dollar and the euro is 1.00 euro = $1.2093. What is the cross-rate of Swiss francs to euros? Enter your answer rounded to four decimal places
Expert Solution
Computation of Cross rate for Swiss Francs to Euro:
US dollar and Swiss francs rate = Swiss Francs = 0.9565 / $1.00
US dollar and Euro rate = $ 1.2093 / Euro
Cross rate for Swiss Francs to Euro (SF /Euro) = US dollar and Swiss francs rate * US dollar and Euro rate
= 0.9565 * 1.2093
Cross rate for Swiss Francs to Euro (SF /Euro) = 1.1567
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