Calculating the Exchange Rate
To Calculate the exchange you use the following formulas:
  • 1 Canadian dollar = 1/Foreign currency (in Canadian dollars)
( in units of foreign currency)
  • 1 unit of foreign currency = 1/ Canadian Dollar (in foreign currency)
    ( in Canadian Dollars)
1. John E. Sayre and Alan J. Morris, Principles of Macroeconomics 6th Edition (Toronto: McGraw - Hill Ryerson, 2009), 349.