Using the data in the table below, find the nominal exchange rate between the Mexican peso and the Japanese yen. Express in two ways.Nominal Exchange Rates for the U.S. DollarCountryForeigncurrency/U.S. dollar U.S. dollars/foreigncurrencyUnited Kingdom (pound) 0.6410 1.5601Canada (Canadian dollar) 1.3001 0.7692Mexico (peso) 16.2676 0.0615Japan (yen) 124.1400 0.00806European Union (euro) 0.9147 1.0933Source: The Wall Street Journal, July 31, 2015.Instructions: Enter your responses rounded to three decimal places.One peso = ______ yen.One yen = ______ peso.How do your answers change if the peso appreciates by 10 percent against the dollar while the value of the yen against the dollar remains unchanged?Instructions: Enter your responses rounded to three decimal places.One peso = _________yen.One yen = __________ peso.?
