Calculate the EUR/JPY spot rate using the following spot rates: EUR/USD: 1.1360 USD/JPY: 109.4818 (Round your answer to 2 decimal places)

1. Break Down the Problem

To calculate the EUR/JPY spot rate, we will need to use the given spot rates: EUR/USD and USD/JPY. The formula to derive EUR/JPY from these rates is:

$\text{EUR/JPY} = \text{EUR/USD} \times \text{USD/JPY}$

2. Relevant Concepts

The relevant formula is:

• Exchange rate conversion formula

3. Analysis and Detail

Using the given values:

• EUR/USD = 1.1360
• USD/JPY = 109.4818

Now we will perform the calculation:

$\text{EUR/JPY} = 1.1360 \times 109.4818$

4. Verify and Summarize

Now, we calculate:

$\text{EUR/JPY} = 1.1360 \times 109.4818 \approx 124.906 \text{ (calculating)}$

Rounding this to two decimal places gives us:

$\text{EUR/JPY} \approx 124.91$

Final Answer

The EUR/JPY spot rate is 124.91.