International business: foreign currency | International Business | Fayetteville State University

The foreign currency or foreign exchange market is a decentralized worldwide market in which currencies are traded.  It was created in order to facilitate the flow of money derived from international trade.  The foreign currency market functions 24 hours a day for 5.5 days a week, opening on Sunday afternoon and closing on Friday, along with the New York market.  The foreign exchange market is the backbone of international trade and global investing. It is critical to support imports and exports, which are necessary to gain access to resources and to create additional demand for goods and services.

The Assignment

Using the Internet to obtain current exchange rate information complete the attached Internet Assignment worksheet and submit using this assignment link.  Complete all 5 questions.  Show your calculations when  required.  The maximum points available for this assignment is 50 points.   Internet Assignment -1 Foreign Exchange Worksheet.docx Internet Assignment -1 Foreign Exchange Worksheet.docx – Alternative Formats

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Grading Criteria

• Name and Date
• Complete the 5 questions – following the directions on the worksheet
• Show your work (calculations ) when required

Resources  Currency Exchange Converter websites on the Internet

Examples:  https://www1.oanda.com/currency/converter/ (opens in a new window)

https://www.msn.com/en-us/money/tools/currencyconverter (opens in a new window)