New exchange rate:
R1 = $7.09
Appreciation of rands by 10.5%:
10.5% of R7.09 = 0.105 x 7.09 = $0.745
New exchange rate:
$7.09 + $0.745 = $7.835
Therefore, the new exchange rate is R1 = $7.835.
The exchange rate of the rands against the dollar is R1= $ 7,09. Assume that rands appreciate by 10,5 against the dollar.
1. Calculate the new exchange rates and show all the calculations
1 answer