Assume we have the following quotes: USD 1 = MYR 4.05 (Malaysian Ringgit) USD 1 = JPY 103.78 (Japanese Yen) What is the exchange rate between the JPY and the MYR? JPY 1 = MYR 420.31 JPY 1 = 43.2 MYR 1 JPY 1 = 0.0390 MYR JPY 1 = MYR 25.62 You just came back from a trip to the UK. You want to sell some British pounds left from the trip to bank A. You see the quote by bank A for the pounds as follows: Bid rate: $1.37 (per pound) Ask rate: $1.39 (per pound) Which rate you will use when you sell your pounds to the bank? Average of bid rate and ask rate Ask rate Bid-ask spread Bid rate