The Figure Given Below Depicts the Foreign Exchange Market for British

Multiple Choice

The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2

-When a U.S. importer needs $22,000 to settle an invoice for 25,520 Swiss francs, the exchange rate must be:

A) 1 Swiss franc = $1.16.
B) 1 Swiss franc = $0.16.
C) 1 Swiss franc = $0.84.
D) $1 = 1.16 Swiss franc.
E) $1 = 1.84 Swiss franc.