1. Foreign Exchange
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2. Rose Anne would like to take a trip to Mexico. She has
decided she wants to take 25 000 mexican pesos with her to
spend. What will it cost her in Canadian dollars?
http://www.edu.gov.mb.ca/k12/assess/archives/cm_wt_rp_09.pdf
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3. foreign exchange
chart as of
July 30, 2007
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4. How many pesos would Rose Anne be able to purchase
if she only has $2000 Canadian to spend?
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5. When Rose Anne gets back from her trip to Mexico she
has 5 600 pesos left. How much Canadian will she get
back when she returns the pesos to the bank?
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6. Fees you must pay when you bring items back to
Canada from other countries.
Custom duties, and excise tax
NAFTA: a trade agreement with Mexico and the US which
allows Canadians to bring in product from these
countries "duty" free.
GP: stands for General Preferential. Includes China, India
and Latin American countries.
MFN: stands for Most Favored Nation. Most other
countries are in this group.
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7. Alvin imports costume jewellery from France.
His newest order is 1000 necklaces, that cost 5 Euro each.
Calculate Alvin's total cost to import the jewellery.
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8. 8

9. To Calculate the Custom Duties on an item purchased in another
country, the value of the item must first be calculated in Canadian dollars
(CDN).
The Customs duties and excise taxes, if any are calculated in Canadian
dollars.
Businesses and individuals that import items must also pay GST on the
Canadian dollar value of their items.
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10. Jocelyn went on a shopping trip to Grand Forks over spring
break. She spent more than her exemption amount so she
must pay on 3 pairs of jeans she purchased for $29.99 each
that were made in the USA. What is Jocelyn's total cost for
these 3 jeans?
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11. Assignment 1­C
Page V­E­15
Questions 1 ­ 8
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12. 12