One British pound can purchase 1.62 U.S. dollars today in the foreign exchange market and currency forecasters?
One British pound can purchase 1.62 U.S. dollars today in the foreign exchange market and currency forecasters predict that the U.S. dollar will depreciate by 12 percent against the pound over the next 30 days. How many dollars will a pound buy in 30 days?
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Tagged with: british pound • currency • exchange • forecasters • foreign exchange market • market • pound • Today • U.S.
Filed under: Currencies
Currently one $ is worth 1/1.62 £≈0.617£
In 30 days $ will loose value for 12% , thus it will be:
1$ ~ 0.617-12% = 0.617*(1-0.12) = 0.617*0.88 ≈ 0.543 £
Or: 1£ = 1/0.543 ≈ 1.84$
Or directly: 1£ = 1.62/(1-0.12) = 1.62/0.88 = 81/44 ≈ 1.84$
Answ: 1£ ≈ 1.84$
Depreciate means that the US$ will be worth less in 30 days so the Pound will buy more in 30 days than today. Specifically, the Pound will buy 12% more so what would that be?
All of these calculations…… ahhhhhhh!!!
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