Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

H M N Buy Sell 3 USD United States Dollar 529 4 EUR Euro 713 5 PES Argentina 200 NOK Norwegian 72 7 DKK Denmark

image text in transcribed

H M N Buy Sell 3 USD United States Dollar 529 4 EUR Euro 713 5 PES Argentina 200 NOK Norwegian 72 7 DKK Denmark 80 8 GBP Great Britain 820 9 PES Mexico 34 10 CAD Canada 470 11 AUD Australia 12 JPY Japan 45 13 Complete Cross rate 537 723 USD/EUR 223 USD/PES 80 USD/NOK 93 USD/DKK 857 USD/GBP 45 USD/PES 483 USD/CAD 467 USD/AUD 57 USD/JPY 450 14 15 16 The basic formula always works like this: A/B X B/C = C/B. The cross rate should equal the ratio of the two corresponding pairs, therefore, EUR/GBP = EUR/USD divided by GBP/US, just like GBP/CHF = GBP/USD X USD/CHF. CHF is Swiss Franc (Switzerland) 17 18 19 20 21 22 23 2A 25 26 27 28 Sheet1 H M N Buy Sell 3 USD United States Dollar 529 4 EUR Euro 713 5 PES Argentina 200 NOK Norwegian 72 7 DKK Denmark 80 8 GBP Great Britain 820 9 PES Mexico 34 10 CAD Canada 470 11 AUD Australia 12 JPY Japan 45 13 Complete Cross rate 537 723 USD/EUR 223 USD/PES 80 USD/NOK 93 USD/DKK 857 USD/GBP 45 USD/PES 483 USD/CAD 467 USD/AUD 57 USD/JPY 450 14 15 16 The basic formula always works like this: A/B X B/C = C/B. The cross rate should equal the ratio of the two corresponding pairs, therefore, EUR/GBP = EUR/USD divided by GBP/US, just like GBP/CHF = GBP/USD X USD/CHF. CHF is Swiss Franc (Switzerland) 17 18 19 20 21 22 23 2A 25 26 27 28 Sheet1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions