Solved: Exchange rate between the u.s. dollar and the mexican peso, Finance Basics

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Exchange rate between the u.s. dollar and the mexican peso

Question:

Please see below for the solution on a question regarding foreign exchange rates - pesos and dollars in this case. Provide step by step calculations and detailed explanations.

Currently, in the spot market $1 = 106.5 Japanese yen, 1 Japanese yen = 0.0096 euro, and 1 euro = 10.1 Mexican pesos. What is the exchange rate between the U.S. dollar and the Mexican peso?

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Finance Basics: Exchange rate between the u.s. dollar and the mexican peso

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