In the mock AM exam, they list the USD / EUR as $1.3277. This doesn’t make sense, should it be reversed ($0.77 / 1 Euro)?
CFAI convention is to show the price of the foreign currency. In this case 1.32 dollars to buy one euro
USD/EUR = USD for 1 EUR
I know what you’re saying - given the current exchange rate.
But, just remember A/B - B is the base currency which you’re pricing in terms of A.
CFAI is weird like that
they could do 125.0 USD/JPY and throw a bunch of people off
You cannot be any more confused than I am - I deal with these currencies all day long and for me to find out this, was like being told we actually live on planet mars and what we called moon till date is earth.
I’m so scared that come Monday, I’ll also flip these around at work and end up selling what I wanna buy!