Foreign Exchange Quote
October 4th, 2022
1. In a U.S. news paper, there is a quotation “Norway (Krone) U.S. $ equiv. 0.1601”. What does that mean? (answer briefly).
2. If you are an American, and you agree to pay 100 Euro to another person in 6 months, who bears the currency fluctuation risk—-you or the person you will pay? Why?