1. Given below are a set of foreign exchange quotes for several currencies against the Australian dollar as of August 5, 2020. Australian Dollar Exchange Rates Currency Sell/buy US dollar 0.7143/0.7143 UK, pound 0.5458/0.5459 China, yuan Renminbi 4.9872/4.9907 Hong Kong, dollar 5.5349/5.5364 India, rupee 53.572/53.669 Japan, yen 75.70/75.70 Malaysia, ringgit 3.0104/3.0139 Philippines, peso 34.953/35.135 South Africa, rand 12.2272/12. 2340 Switzerland, franc 0.6551/0.6551 Thailand, baht 22.1892/22.2317 (a) A friend of yours is totally confused by these rates. She is planning to visit Thailand next month and wishes to purchase 10,000,000 Baht. How many Australian dollars does she require, assuming she is able to use the above quotes? (2 marks) (b) What are the direct quotes for the following currencies with respect to the Australian dollar? (i) UK pound Chinese Renminbi (iii) Indian rupee (iv) Malaysian ringgit South African rand (5 marks) (e) Create a table showing the bid and ask quotes of each of the following currency pairs: (1) GBP/CHF PHP/THB (iii) HKD/MYR (iv) JPY/INR (v) RMB/ZAR (10 marks) (d) On August 5, 2020, you received 100,000 ZAR. Using the rates in the above chart how many AUD will you receive upon selling this? (3 marks) (20 marks)