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Foreign Exchange Rates
Hi,
I am taking an economics class from an unnamed major university.
The other day in class the teacher told us something I believe to be untrue but would like a second opinion.
she said,
"USD/CAD = .714" is the same as ".714 USD/CAD" and "1 CAD = .714 USD"
I agree that the second 2 are the same, but the first one is inverted. Am I incorrect or is the teacher?
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