If USD/JPY is 116.01 and EUR/USD is 1.1597, calculate the (correctly rounded) EUR/JPY rate: Select one: a. 100.0345 b. 134.54 c. 134.5368 d. 100.03
Question
If USD/JPY is 116.01 and EUR/USD is 1.1597, calculate the (correctly rounded) EUR/JPY rate:
Select one:
a.
100.0345
b.
134.54
c.
134.5368
d.
100.03
Solution
To calculate the EUR/JPY rate, you need to multiply the USD/JPY rate by the EUR/USD rate.
Here's the step-by-step calculation:
-
Multiply the USD/JPY rate (116.01) by the EUR/USD rate (1.1597).
Calculation: 116.01 * 1.1597 = 134.536877
-
Round the result to four decimal places, as is standard in forex trading.
Rounded result: 134.5369
So, the closest answer is:
c. 134.5368
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