Exchange rate notation

Dreary,
You are correct. I just realized that I used old notation. [Page 638] $:¥ = 120.17 - 120.19. Interpreting this in reverse would give absurd results. The near equality of € and $ values got me.
With the new notation most of the other answers make sense. I give it to you.
Thanks!
 
pepp Wrote:
——————————————————-
> Ok, boys and girls. let’s settle this. I am going
> to write few statements. FYI: they are all true.
> (if you disagree, let me know).
>
> 1. Euro:Dollar (€:$) is equal to the notation of
> Dollar/Euro ($/€)
> 2. Euro:Dollar means Euro is the quoted currency
> in terms of dollar.
> 3. Dollar/Euro also means you are quoting Euro in
> terms of dollar.
> 4. €:$ is a direct quote for an american investor
> or someone who is holding $ <- it’s called direct
> quote because €:$ number tells the price of euro
> in terms of dollar.
> 5. Likewise, dollar/euro tells an american
> investor, the cost 1 euro in dollar, hence a
> direct quote for american investor.
> 6. Cost of 1 euro in terms of dollar is same as
> saying: one euro costs x dollars, and also same as
> saying: x dollars can buy one euro.
>
Correct. But I don’t like this American/European investor…it’s more about whether you’re buying or selling $, or buying and selling Euros?
 
^ agree with dreary, it doesn’t matter where you’re from:
Euro:$ = .9790 - .9795
give the guy a euro, get .9790 dollars
to buy a euro, you will pay .9795 dollars
$:Euro = 1.020929 - 1.02145
give the guy a dollar, get 1.020929 euros
to buy a dollar, you will pay 1.02145 euros
just lay it out this way and you’ll be aight; you don’t even really need the second one, the first one will allow you to cross multiply and solve any transaction anyway.
 
Still it doesn’t make sense.
I agree with €:$ = 1.25 but not with $/€ = 1.25 (though textbook says they are same!). I’m ok with using 1.25$/€ for €:$ = 1.25. However €:$ = 1.25 should imply €/$ =1.25 which also makes sense mathematically.
Here is currency quote from Reuters:
http://www.reuters.com/finance/currencies/quote?destAmt=&destCurr=USD&sr....
And yes, domestic and foreign investor explanation is irrelevant.
 
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