Question 315 foreign exchange rate, American and European terms
If the current AUD exchange rate is USD 0.9686 = AUD 1, what is the European terms quote of the AUD against the USD?
(a) 0.9686 USD per AUD
(b) 0.9686 AUD per USD
(c) 1.0324 USD per AUD
(d) 1.0324 AUD per USD
(e) 1.0324 AUD per EUR
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