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Question Three a) The spot foreign exchange rates report taken on Monday May 24, 2016 are indicated below as the number of foreign currencies needed

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Question Three a) The spot foreign exchange rates report taken on Monday May 24, 2016 are indicated below as the number of foreign currencies needed to buy a unit of UK pounds. Euro US$ Japanese yen GBE 1.18240 1.42880 152.63000 Rights Calculate the theoretical cross rates between (10 marks) i. the Japanese yen and US$ ii. the euro and the Japanese yen

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