I thought that .95/Euro, means that for every 1 Euro, you get .95. Is that correct?
yup
Verbatim from Schweser: First, calculate the amount of euros originally received for $500 at $0.95/€ exchange rate: $500 / (0.95/€) = 526.32 is this wrong? I have seen this before in another question from Schweser, do you think they mean :Euro? Anyone else having this issue, it is driving me nuts.
that is correct. 500$ 0.95$/Euro so how many Euro do you get? 500 / 0.95 Euro. Only then the $ cancels out to leave you with Euro.
That is correct. USD more valuable then euro. so 526.38 euro x (1usd/.95euro) = 500 usd.
Ah, got it. 95 cents buys 1 Euro…