RELG 253 Quiz: Intro to Chan (Zen) Buddhism Notes.docx
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Part 2. Cross rates
The highest bid and lowest ask in the NY currency market for thelisted currencies:
Australian dollar | AUD/USD | 0.7190 |
Chinese yuan | USD/CNY | 6.7473 |
Danish krone | USD/DKK | 6.5451 |
Euro | EUR/USD | 1.1415 |
Jamaican dollar | USD/JMD | 132.88 |
Japanese yen | USD/JPY | 109.55 |
New Zealand dollar | NZD/USD | 0.6839 |
West African franc | USD/XOF | 279.50 |
1 a. What is the implied cross rate for exchanging Australiandollars and New Zealand dollars? What is the base currency in thiscross rate?
b. If a customer sells A$1m in exchange for NZ$, how many NZ$will the customer receive?
2 a. What is the implied cross rate for exchanging Chinese yuanand Danish krone? Specify which currency is the base currency inyour answer.
b. If a customer sells Kr 1m in exchange for ¥, how many ¥ willthe customer receive?