Cost Analysis
Section 3.2.
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Currency Conversion - July 1997

Currency Conversion : July 1997

Currency Conversion

                             Non-US         $ into non-US
Country        Currency      curr. into $    currency
---------      ---------    ----------      ------------
Australia      dollar        $0.7394            1.3524
Austria        schilling      0.0782           12.78
Belgium        franc          0.0266           37.53
Brazil         real           0.9250            1.0811
Britain        pound          1.679             0.5956
Canada         dollar         0.7260            1.3775
China          yuan           0.1202            8.3211
France         franc          0.1628            6.1436
Germany        mark           0.5482            1.8240
Hong Kong      dollar         0.1291            7.7475
Ireland        punt           1.4957            0.6686
Israel         shekel         0.2832            3.5314
Italy          lira           0.000564       1772.90
Japan          yen            0.008684        115.15
Netherlands    guilder        0.4892            2.0440
New Zealand    dollar         0.6534            1.5305
Russia         ruble          0.000173       5787.50
Saudi Arabia   riyal          0.2666            3.7505
Singapore      dollar         0.6818            1.4667
Sweden         krona          0.1285            7.7841
Switzerland    franc          0.6759            1.4796
Currency conversion:

Currency exchange rates vary from day to day (really, from minute to minute!), and vary depending on how far into the future you want to try to set the rate. "Spot" rates are rates for immediate exchange, and "forward" rates are exchange rates as of some stated number of days into the future - typically 30, 60, or 90 days.

The above table is taken from The New York Times on Wednesday, July 23, 1997 (the rates are as of close-of-business on Tuesday, July 22, 1997), and shows spot rates. This table can be used for estimating and approximating, but is only valid for that day. The papers will typically have rates from many more countries than just those shown; this is only a representative sampling.

Note that the typical way to quote exchange rates in the US is in US dollars, i.e., X dollars per unit of currency, but that for some currencies (e.g., Italian lira or Japanese yen), it is customary to quote the rate as X units of currency per dollar.

To convert from the non-US currency to dollars, multiply by the number in the first column. For example, converting pounds (UK) to dollars (US):

1000 British pounds x 1.679 dollars/pound = $1,679

Similarly, to convert from dollars to the non-US currency, multiply by the number in the second column. For example, converting from US dollars to Japanese yen:

10,000 US dollars x 115.15 yen/dollar = 1,151,500 yen

Finally, you also can use the table to convert from one non-US currency to another by converting from the first to dollars and then converting from dollars to the second. For example, converting Swiss francs to French francs:

100 Swiss francs x 0.6759 US$/Swiss franc x

6.1436 French francs/US$ = 415.25 French francs

Cost Analysis

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