Question

USD equivalent Country BID ASK Switzerland (Franc) CHF 0.7648 0.7652 Euro € 1.4000 1.4200 What is the BID cross-exchange rate for Swiss Francs priced in euro? Hint: Find the price that a currency dealer will pay in euro to buy Swiss francs.

Answer 1

0.53867CHF

Step-by-step explanation:

We solve using the BID price of the Franc and the ASK price of the Euro as the person will be having the Euro and wanting to convert into Swiss Francs

We want to know the value of a single Euro expressed in term of Swiss Francs (CHF)

0.7648 CHF / 1.42 EUR = 0,53859 = 0.5386

Answer 2

€0.5386/CHF

Step-by-step explanation:

A cross exchange rate is the exchange rate between two currencies that are quoted or expressed in a common or third currency.

To calculate the BID cross-exchange rate for Swiss Francs priced in euro in the question, we will divide the CHF/USD BID by the EUR/USD ASK as follows:

BID cross-exchange rate for Swiss Francs priced in euro = 0.7648 ÷ 1.4200 = €0.5386.

Therefore, the BID cross-exchange rate for Swiss Francs priced in euro is €0.5386/CHF.