Question

Based on the information below, what is the cross-rate for Australian dollars in terms of Swiss francs? Currency/USD Equiv Australia dollar/0.7002 Switzerland franc/0.8008

Answer 1

0.8755 CHF

Step-by-step explanation:

To find the cross-rate for Australian dollars (AUD) in terms of Swiss francs (CHF), you can use the given exchange rates for both currencies in terms of the U.S. dollar (USD).

Given exchange rates:

- 1 Australian dollar (AUD) = 0.7002 USD

- 1 Swiss franc (CHF) = 0.8008 USD

To find the cross-rate for AUD to CHF, you divide the rate for AUD by the rate for CHF in terms of USD:

Cross-rate (AUD to CHF) = (AUD/USD) / (CHF/USD)

Cross-rate (AUD to CHF) = (0.7002 USD) / (0.8008 USD)

Now, calculate the cross-rate:

Cross-rate (AUD to CHF) ≈ 0.8755 CHF

So, the cross-rate for Australian dollars in terms of Swiss francs is approximately 0.8755 CHF.