To buy one Indian Rupee you would need
Below is an excerpt from Table 19.1, Foreign Exchange Rates (December 26, 2012) that appears in your text. (Sources The Wall Street Journal, Reuters)
Country/Currency In US$ Per US$
India (Rupee) .01818 55.0155
Britain (Pound) 1.6133 .6198
1-mos forward 1.6133 .6198
3-mos forward 1.6130 .6200
6-mos forward 1.6128 .6200
Canada (Dollar) 1.0074 .9927
Switzerland franc 1.0917 .9160
1-mos forward 1.0928 .9151
3-mos forward 1.0939 .9141
6-mos forward 1.0961 .9123
A) 1.818 cents.
B) 55.0155 cents.
C) 18.18 cents.
D) .01818 cents.
Answer: A
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