Question
On Oct 19, 2020 Lloyds Bank of London quoted dollars and yens at the following rates: GBP/USD 0.7705-45 and GBP/JPY 0.0073-76. A cross-rate is an
On Oct 19, 2020 Lloyds Bank of London quoted dollars and yens at the following rates: GBP/USD 0.7705-45 and GBP/JPY 0.0073-76. A "cross-rate" is an exchange rate between two foreign currencies (relative to the UK).
Questions:
What would be Lloyds' implied cross-rate of exchanging USD to JPY (i.e., USD/JPY)?
Answer:
Choose one of the following answers: A, B, C or D
A = USD/JPY 0.0084-87
B = USD/JPY 0.0091-96
C = USD/JPY 0.0094-99
D = USD/JPY 0.0104-115
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Financial Accounting Essentials You Always Wanted To Know Self Learning Management Series
Authors: Vibrant Publishers , Kalpesh Ashar
5th Edition
1636510973, 978-1636510972
