1 you want to buy mexican pesos mxn the spot rate quote is, Ask an Expert

Finance

1. You want to buy Mexican pesos (MXN). The spot rate quote is MXN18.3255000/$ Bid – MXN18.330000/$ Ask. How much will you pay in USD to purchase MXN500,000 at the current spot rate?

A. $27,277.69

B. $9,162.75

C. $24,893.03

D. $27,284.39

2. On January 1, 2016, the spot rate for the Mexican peso (MXN) was MXN17.267900/USD Bid – MXN17.274400/USD Ask, and your firm purchased MXN15,000,000. One year later, the firm sold MXN15,000,000 when the spot rate was MXN20.597500/USD Bid – MXN20.605500/USD Ask. How much did the firm gain or lose in U.S. dollars?

A. -$140,702.84

B. $141,063.57

C. -$140,093.24

D. $93,984.13

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92790522

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