Bank of Southern Vermont has determined that its inventory of 20 million euros (e) and 25 million British pounds () is subject to market risk. The spot exchange rates are $1.20/eand $1.60/, respectively. The s of the spot exchange rates of the eand , based on the daily changes of spot rates over the past six months, are 65 bp and 45 bp, respectively. Determine the banks 10-day VAR for both currencies. Use adverse rate changes in the 99th percentile.