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Problem # 1 Assume that you are planning a trip to Tokyo next week. You currently have $ 6 0 0 0 cash and exchange
Problem #
Assume that you are planning a trip to Tokyo next week. You currently have $ cash and exchange the dollar
currency for Japanese Yen at XYZ Global Bank. The current bid for Japanese Yen is per $ and the ask rate is per
$
What is the bidask spread?
What is the Yen value "purchased" upon the exchange?
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