An Australian bank quotes the following rates:

CHF/USD

1.5335/45

USD/AUD

0.7010/15

Required:

(i) What is the banks offer rate for USD/CHF. (5 marks)

(ii) The bank buys from an exporter CHF 1 million in exchange for USD and

then sell those Swiss francs to an importer for USD. How much does the

bank make in USD? And, how much is made if translated into AUD?

(5 marks)

Please do it as soon as possible, thanks!!!