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1. (Cross-rates; bid-ask spreads): Due to the concern of efficiency, Credit Suisse has the following quotes Bank quotation Bid Ask F78.34/S $1.2955/E Euro (a) A
1. (Cross-rates; bid-ask spreads): Due to the concern of efficiency, Credit Suisse has the following quotes Bank quotation Bid Ask F78.34/S $1.2955/E Euro (a) A bank customer wants to sell 1,000,000 for *. How many * will the bank customer receive after two transactions? (b) A bank customer wants to buy 1,000,000. How many will the bank customer pay after two transactions? (c) What is the bid rate for the cross rate of (four decimal places)? (d) What is the ask rate for the cross rate of E (four decimal places)
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