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2. A forex trader from Mumbai collects the below information regarding the exchange rate between INR and EURO: Bid Price: INR /EURO=80.8300 Ask Price: INR

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2. A forex trader from Mumbai collects the below information regarding the exchange rate between INR and EURO: Bid Price: INR /EURO=80.8300 Ask Price: INR /EURO=80.8400 You are required to help him with the below questions he has: (a) What is the direct exchange rate of INR-EURO for the trader? (b) What is the indirect exchange rate of INR-EURO for the trader? (c) What is a cross rate? If the bid and ask rate for EUR-USD are available as EUR 1.0200-1.0300/USD, what would be the bid-ask rates for INR/USD, using the crossrate method

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