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Revision Exercise
The foreign currency board displays the following hotel rates:
Currency |
Hotel Rate |
|---|---|
US $ |
1.3391 |
Canadian $ |
0.9061 |
Swiss francs (SFr) |
0.8556 |
New Zealand $ |
0.7281 |
£ Sterling |
2.1474 |
Japanese ¥ (100 Yen) |
1.0558 |
During the morning shift the supervisor checks the following exchange transactions calculated by the GSA. Ensure that the Australian Dollar value is correct.
Currency |
FX Amount |
A$ Equivalent |
Corrected |
|---|---|---|---|
Canadian $ |
1000.00 |
906.10 |
|
Swiss francs (SFr) |
550.00 |
470.60 |
|
Japanese ¥ |
20 000.00 |
2111.60 |
|
US $ |
120.00 |
259.10 |
|
NZ $ |
480.00 |
349.50 |
|
£ Sterling |
640.00 |
137.45 |
|
US $ |
150.00 |
200.90 |
|
SFr |
1500.00 |
1283.40 |
|
Japanese ¥ |
28 000.00 |
295.60 |
Revision Exercise continued
Guests wish to pay the following accounts with foreign currency. Check that the cashier has calculated correctly.
Foreign Currency |
Account Total A$ |
FX Equivalent |
Corrected |
|---|---|---|---|
Canadian $ |
684.55 |
755.49 |
|
SFr |
925.50 |
1081.70 |
|
Japanese ¥ |
3 275.00 |
310191.32 |
|
Japanese ¥ |
730.75 |
691.42 |
|
US $ |
1 025.95 |
766.14 |
|
NZ $ |
340.80 |
468.07 |
|
£ Sterling |
212.95 |
199.17 |
The property's foreign currency board needs updating. Use the exchange rates in today's paper for one A $. The hotel deducts 9 % commission from the bank rate. Calculate the new rates for each unit of foreign currency, less commission. (To 4 decimal points)
Currency |
Exchange rate for one A $ |
Exchange rate for one unit of foreign currency |
Hotel Rate ( less 9% commission) |
|---|---|---|---|
US $ |
|||
Canadian $ |
|||
New Zealand $ |
|||
£ Sterling |
|||
Japanese ¥ |
|||
Singapore $ |
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Swiss Franks |
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