Let's analyze the exchange rate chart provided:
\begin{tabular}{|c|c|}
\hline Currency & \begin{tabular}{c}
Exchange Rate \\
March 12, 2013 \\
(US dollar = 1)
\end{tabular} \\
\hline Canadian dollar & 1.0278 \\
\hline Swiss franc & 0.9508 \\
\hline Euro & 0.7689 \\
\hline British pound & 0.6706 \\
\hline Japanese yen & 96.1503 \\
\hline
\end{tabular}
1. Japan's currency shows that it has the strongest economy of any country.
- The Japanese yen has an exchange rate of 96.1503 per US dollar. However, this rate does not necessarily imply the strength of the economy but rather the value of the currency relative to the US dollar. A higher exchange rate means more yen are needed to equal one dollar, indicating the yen is weaker compared to the dollar.
2. The value of each currency is shown in relation to the US dollar.
- This is correct. The chart specifies the value of each currency in relation to one US dollar. For example, one US dollar equals 1.0278 Canadian dollars, 0.9508 Swiss francs, 0.7689 Euros, 0.6706 British pounds, and 96.1503 Japanese yen.
3. It would take six British pounds to purchase one US dollar.
- According to the exchange rate, one US dollar equals 0.6706 British pounds. If we invert this rate (1 / 0.6706), it would take approximately 1.49 British pounds to purchase one US dollar, not six.
4. Swiss francs are the strongest currency in Europe.
- Among the European currencies listed, the Swiss franc, Euro, and British pound, the Swiss franc has the highest value per US dollar at 0.9508, compared to the Euro at 0.7689 and the British pound at 0.6706. Hence, Swiss francs are the strongest currency in Europe based on this exchange rate.
In conclusion, the statement that accurately interprets the information on the chart is: "The value of each currency is shown in relation to the US dollar."
