Question $1$:

Let's assume that there are no bid ask spreads in the quotes in Figure $1$ in the next page.

$1$a$/$ For each each exchange rate $($that is$,$ each currency pair$)$ listed in Figure $1$ in the next page, draw an arrow diagram representing that exchange rate $($using the convention described in Lecture Note $2).$

$1$b$/$ Using only the information in Figure $1,$ infer the exchange rates of all other currencies in that Figure quoted against Australian Dollar $($AUD$)$ such that AUD is the numeraire currency in these exchange rates.

$1$

$\backslash$table$[[$CURRENCY$,$VALUE,CHANGE,NET CHANGE,TIME $($EST$)],[$EUR$-$USD,$1\mathrm{.}0898,0\mathrm{.}0022,+0\mathrm{.}20\%,\frac{1}{19}\frac{?}{2024}$