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Suppose that Cloudastries Bank is a U.S.-based financial intermediary that serves the foreign exchange morket. Assume that this bank is wiling to both purchase and

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Suppose that Cloudastries Bank is a U.S.-based financial intermediary that serves the foreign exchange morket. Assume that this bank is wiling to both purchase and seli currency for the same rate. In other words, assume there is no bld/ask spread. 5uppose Cloudastries has made the following direct quotations: Additionally, Cloudastries has quoted a cross exchange rate of 1 curo =3.05 pesos. Based on the spot rates in the table, the cross exchange rate of the euro should be equal to that the bank is quoting. pesos, rather than the 3.05 pesos per euro TOTAL SCORE: OI/

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