CROSS RATE A currency trader observes that in the spot exchange market, 1 U.S. dollar can be
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CROSS RATE A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for 3 63 Israeli shekels or for 96 Japanese yen. What is the cross-exchange rate between the yen and the shekel; that is, how many yen would you receive for every shekel exchanged?
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Related Book For 
Fundamentals Of Financial Management Concise Edition
ISBN: 9781285065137
8th Edition
Authors: Eugene F. Brigham, Joel F. Houston
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