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Suppose that one year ago the spot rate for the British pound was $1.89 per pound, while the spot rate for the peso was $1.05
Suppose that one year ago the spot rate for the British pound was $1.89 per pound, while the spot rate for the peso was $1.05 per peso.
The cross rate of the British pound one year ago was 1 = ___ pesos.
Suppose that now the spot rate for the British pound is $2.00 per pound, while the spot rate for the peso was $1 per peso.
Now, the cross rate of the British pound is 1 = ____ pesos. This represents a ____ percent change in the cross rate of the British pound.
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