MCQs on Foreign Exchange Rates

What does an exchange rate tell us?

• The cost of a product in different countries

• The value of one currency compared to another

• The amount of gold a country owns

• The number of products a country exports

According to Figure 17.4, which currency has the highest value in U.S. dollars?

• British pound (£)

• Japanese yen (¥)

• Indian rupee (Rs)

• South Korean won (₩)

How much Japanese yen (¥) do you get for 1 U.S. dollar?

• 10.3 yen

• 61.7 yen

• 102.62 yen

• 130.75 yen

If you exchange 100 U.S. dollars for South Korean won (₩), how much won do you receive?

• 104.97 ₩

• 1,049.70 ₩

• 10,497 ₩

• 104,970 ₩

Which country's currency is worth the least in U.S. dollar terms?

• Swiss franc (CHF)

• South Korean won (₩)

• Japanese yen (¥)

• British pound (£)

If a product costs 50 euros (€), how much would it be in U.S. dollars?

• $37.50

• $50

• $68.85

• $1.37

If you travel to Australia with $500 USD, how many Australian dollars (AUD) will you get?

• 561.90 AUD

• 446.00 AUD

• 1,120.90 AUD

• 890.21 AUD

Based on the table, which of the following statements is true?

• The euro (€) is weaker than the U.S. dollar

• The Indian rupee (Rs) is stronger than the U.S. dollar

• The Japanese yen (¥) is weaker than the U.S. dollar

• The Swiss franc (CHF) is weaker than the U.S. dollar

Why do some countries have higher exchange rates per U.S. dollar?

• Their economies are stronger

• Their currencies have lower value compared to USD

• They produce more goods than the U.S.

• Their currencies are backed by gold

If you exchange 200 U.S. dollars for Mexican pesos (MXN), how much would you get?

• 25.84 pesos

• 1,294.93 pesos

• 2,589.86 pesos

• 12,949.30 pesos