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Albert visits Toronto and buys 1.74 Canadian dollars (CAD) for one British pound (GBP) When he returns home to the United Kingdom, he converts CAD1

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Albert visits Toronto and buys 1.74 Canadian dollars (CAD) for one British pound (GBP) When he returns home to the United Kingdom, he converts CAD1 into GBPO 59. Is the new exchange rate favorable or unfavorable? Advise Albert, whether he should convert back his remaining Canadian dollars to British pound or not. (1 Mark)

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