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Lecture Multinational financial management - Topic 2: Exchange rates, quotes, transactions, and appreciations

Topic 2 - Exchange rates, quotes, transactions, and appreciations. In this chapter, the learning objectives are: Students can obtain and interpret exchange rates, students can convert currencies using, students can compute and interpret currency appreciations and depreciations. | Topic #2: Exchange Rates, Quotes, Transactions, and Appreciations L. Gattis The Pennsylvania State University Finance 407: Multinational Financial Management 1 Learning Objectives 2 Students can obtain and interpret exchange rates Students can convert currencies using direct and indirect exchange rate quotations Students can compute and interpret currency appreciations and depreciations iClicker Review 3 Which of these is NOT a reason discussed why globalization increased in the last 25 years? Reduction in transportation costs (especially shipping) Establishment of Free Trade Agreements Conversion from government controlled to free market economies (capitalism) African Development Computers make it easier coordinate worldwide supply chains Direct and Indirect Prices: Latte 4 The price of a Latte is 3.30 U.S. dollars Direct Price Quote: $3.30/Latte This a called a direct quote in USD for an American You could also say that the Latte price of a USD is 0.3030 Latte Indirect Quote: 0.3030 | Topic #2: Exchange Rates, Quotes, Transactions, and Appreciations L. Gattis The Pennsylvania State University Finance 407: Multinational Financial Management 1 Learning Objectives 2 Students can obtain and interpret exchange rates Students can convert currencies using direct and indirect exchange rate quotations Students can compute and interpret currency appreciations and depreciations iClicker Review 3 Which of these is NOT a reason discussed why globalization increased in the last 25 years? Reduction in transportation costs (especially shipping) Establishment of Free Trade Agreements Conversion from government controlled to free market economies (capitalism) African Development Computers make it easier coordinate worldwide supply chains Direct and Indirect Prices: Latte 4 The price of a Latte is 3.30 U.S. dollars Direct Price Quote: $3.30/Latte This a called a direct quote in USD for an American You could also say that the Latte price of a USD is 0.3030 Latte Indirect Quote: 0.3030 Latte/USD This a called a indirect quote Lattes are always quoted in direct terms $3.25 Direct and Indirect Prices: Euro 5 The price of a Euro is 1.25 U.S. dollars Direct Quote: $1.25/Euro This a direct quote in USD for an American You could also say that the euro price of a USD is .80 euro Indirect Quote: €0.80/USD This a called a indirect quote The euro is usually quoted in direct terms $1.25/€ Direct and Indirect Prices: Danish Kroner 6 The price of one Krone is .16 U.S. dollars Direct Quote: $0.16/Krone This a direct quote in USD for an American You could also say that the krone price of a USD is 6.25 krone Indirect Quote: Kr 6.25/USD This a called a indirect price The krone is usually quoted in indirect terms, others include Jap. Yen, Swiss Franc, Can. dollar, Chinese yuan, Mexican peso Kr6.25/$ 7 ISO Currency Codes 8 http://en.wikipedia.org/wiki/ISO_4217 Bloomberg.com and Currency Pairs 9 http://www.bloomberg.com/markets/currencies/fxc.html Pairs Format BASE-QUOTE (EUR-USD) .