On which rate would you deal in each of the problems below? Tell which currency you want to buy and sell and at what rate. 3 a. (3 marks) You received JPY from the sale of goods exported to Japan. You now want to convert the proceeds back to US dollars. The market quote is: JPY 115.53 / 115.60 b. (3 marks) The UK central bank is planning to raise interest rate next month. You expect the price of GBP to rise against USD. The market quote is: GBP 1.3544 / 1.3549 c. (4 marks) You will have a EUR receipt in 3 months and want to convert to USD equivalent. You get a market quote of: Spot EUR/USD 1.1427 / 1.1437 3-month swap points 28.19 / 28.47