You just came back from india where the indian rupee was, Ask an Expert

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You just came back from India, where the Indian Rupee was worth $.015. You still have INR 50,000 from your trip and could exchange them for dollars at the airport, but the airport foreign exchange desk will only buy them for $.0125. Next week, you will be going to Canada and will need Canadian Dollars (CAD). The airport foreign exchange desk will sell you pesos for $.70 per CAD. You met a tourist at the airport who is from Canada and is on his way to India. He is willing to trade your INR 50,000 for CAD. What is the minimum amount of CAD you should want for your INR? Explain.

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Financial Management, Finance

Category:- Financial Management
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