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Currencies and Exchange Rates

Question 6 • GA-GSE Personal Finance and Economics

1 euro could be exchanged for 119.

Answer
A
Canadian dollars
B
British pounds
C
Japanese yen

Explanation

An exchange rate of about 119 units for 1 euro points to Japanese yen, which are commonly counted in amounts in the hundreds per euro. Canadian dollars and British pounds are each worth far more per unit, so one euro would exchange for only a small number of either. The correct choice is Japanese yen.

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