Exchange Rates - Checkup

When two currencies are trading 'at par', it means that

• Both currencies can be used to pay for charges at a golf course

• The bank will accept both currencies and exchange them for other currencies

• They have equal value. (e.g. 1 Mexican Peso is worth 1 US dollar)

• They won't be accepted by the banks outside of their own country.

The exchange rate between Mexican Pesos and Canadian Dollars is currently 15:1. How many Pesos would you receive in exchange for 100 Canadian dollars?

• 100

• Between 6 and 7

• 15000

• 1500

The exchange rate between Mexican Pesos and Canadian Dollars is currently 15:1. How many Canadian dollars would you receive in exchange for 100 Mexican Pesos?

• 100

• Between 6 and 7

• 15000

• 1500

The exchange rate between Canadian dollars and American dollars is 1.3 : 1. How many Canadian dollars would you receive in exchange for 50 American dollars?

• $50.30

• $51.30

• $65

• We cannot trade these two currencies

The exchange rate between Canadian dollars and American dollars is 1.3 : 1. How many American dollars would you receive in exchange for 50 Canadian dollars?

• Approximately $38

• $50.30

• $51.30

• We cannot trade these two currencies