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Spot quote 1.1724-1.1726 1.3387-1.3389 0.9836-0.9838 109.65-109.67 115.73- 115.83 Currency Euro (EUR/USD) British pound (GBP/USD) Swiss franc (USD/CHF) Japanese yen (USDJPY) Pakistani rupee (USD/PKR) Part 3.

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Spot quote 1.1724-1.1726 1.3387-1.3389 0.9836-0.9838 109.65-109.67 115.73- 115.83 Currency Euro (EUR/USD) British pound (GBP/USD) Swiss franc (USD/CHF) Japanese yen (USDJPY) Pakistani rupee (USD/PKR) Part 3. Cross rates a. What are the implied cross bid and ask exchange rates for the Euro and the British pound? Which currency would be the base currency in the cross exchange rate? b. What are the implied cross bid and ask exchange rates for the Swiss franc and the Japanese yen? Which currency would be the base currency in the cross exchange rate? c. What are the implied cross bid and ask exchange rates for the Euro and the Pakistani rupee? Which currency would be the base currency in the cross exchange rate? dealer receive? d. How many Japanese yen will a customer that trades I million Pakistani rupees to this

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