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Foreign exchange question
Hi,
Could I please have some help on this? I don't have access to the answers so I can't even work out which is the correct answer. I keep getting 1.12.
This is what I have done. I worked out the exchange rate for Jan.for AUD which I worked out as 1.779. I did 1.757/100 multiplied by 101.25
I then worked out the exchange rate for March, which I worked out as 1.797 (rounded up)
I worked out how many AUD's it would take to buy 200 GBP. Which I worked out as 111.297 in jan and 112.423 in December. The difference of which is 1.12 and is not an option in my answers. I thought it might be because of my rounding, but my answer is way off.