An FI has ¥500 million in its trading portfolio on the close of business on a particular day. The current exchange rate of yen for dollars is ¥80.00/$, or dollars for yen is $0.0125, at the daily close. The volatility, or standard deviation

(  ), of daily percentage changes in the spot ¥/$ exchange rate over the past year was 121.6 bp. The FI is interested in adverse moves–bad moves that will not occur more than 1 percent of the time, or 1 day in every