Question
Suppose the exchange rate between U.S. dollars and British Pounds is $1.00=1.66 pounds and the exchange rate between the U.S. dollar and the Euro is
Suppose the exchange rate between U.S. dollars and British Pounds is $1.00=1.66 pounds and the exchange rate between the U.S. dollar and the Euro is $1.00=1.19 euros. What is the direct quote cross rate of one pound to the euro? (how many euros will one pound purchase?)
type your answer in euros, and round to two decimal places.
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Analysis for Financial Management
Authors: Robert C. Higgins
12th edition
1259918963, 9781260140729 , 978-1259918964
